General Dynamics Co. (NYSE:GD) Stock Position Decreased by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC lowered its position in General Dynamics Co. (NYSE:GD) by 78.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,071 shares of the aerospace company’s stock after selling 3,879 shares during the period. Baker Tilly Wealth Management LLC’s holdings in General Dynamics were worth $311,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in shares of General Dynamics by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after acquiring an additional 115,063 shares in the last quarter. Sanders Capital LLC lifted its stake in shares of General Dynamics by 3.7% in the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock worth $1,081,488,000 after buying an additional 147,800 shares during the last quarter. Norges Bank acquired a new position in General Dynamics in the 4th quarter valued at $728,284,000. Northern Trust Corp raised its holdings in General Dynamics by 1.1% in the 4th quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock worth $592,764,000 after acquiring an additional 24,395 shares during the period. Finally, Boston Partners lifted its position in General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after acquiring an additional 23,262 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.2 %

Shares of General Dynamics stock traded up $0.64 during trading on Friday, hitting $296.59. 852,433 shares of the stock traded hands, compared to its average volume of 1,064,823. The company has a fifty day moving average price of $290.81 and a two-hundred day moving average price of $286.04. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $302.75. The stock has a market cap of $81.37 billion, a P/E ratio of 24.18, a PEG ratio of 1.68 and a beta of 0.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the prior year, the firm earned $2.70 earnings per share. The business’s revenue was up 18.0% on a year-over-year basis. Equities research analysts predict that General Dynamics Co. will post 14.5 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.92%. General Dynamics’s dividend payout ratio is currently 46.33%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Sanford C. Bernstein upped their price target on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company lifted their price target on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $315.06.

Insider Transactions at General Dynamics

In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

About General Dynamics

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.