Adams Diversified Equity Fund Inc. Cuts Position in General Dynamics Co. (NYSE:GD)

Adams Diversified Equity Fund Inc. cut its stake in General Dynamics Co. (NYSE:GD) by 11.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,200 shares of the aerospace company’s stock after selling 10,300 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in General Dynamics were worth $23,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWC Advisors LLC. purchased a new position in shares of General Dynamics in the 3rd quarter valued at $771,000. Kingsview Wealth Management LLC boosted its position in shares of General Dynamics by 87.6% in the 1st quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock worth $4,150,000 after purchasing an additional 6,858 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth $493,000. Peak Financial Advisors LLC acquired a new stake in shares of General Dynamics in the 3rd quarter worth $3,022,000. Finally, Cetera Investment Advisers boosted its position in shares of General Dynamics by 291.4% in the 1st quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock worth $27,271,000 after purchasing an additional 71,871 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GD has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their price target on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Citigroup lifted their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $324.19.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

NYSE:GD opened at $301.80 on Wednesday. General Dynamics Co. has a 12 month low of $237.35 and a 12 month high of $313.11. The stock has a 50 day moving average of $300.69 and a two-hundred day moving average of $294.95. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm has a market cap of $82.99 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.72 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter last year, the firm posted $3.04 earnings per share. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. On average, analysts expect that General Dynamics Co. will post 14.27 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.