General Dynamics Co. (NYSE:GD) Shares Sold by Hendershot Investments Inc.

Hendershot Investments Inc. decreased its position in General Dynamics Co. (NYSE:GD) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,600 shares of the aerospace company’s stock after selling 250 shares during the quarter. General Dynamics comprises approximately 1.7% of Hendershot Investments Inc.’s holdings, making the stock its 18th largest position. Hendershot Investments Inc.’s holdings in General Dynamics were worth $12,070,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GD. Eudaimonia Partners LLC acquired a new stake in General Dynamics during the fourth quarter valued at approximately $240,000. Principal Securities Inc. acquired a new stake in shares of General Dynamics during the fourth quarter worth $1,056,000. Gladstone Capital Management LLP purchased a new stake in shares of General Dynamics during the fourth quarter valued at $3,869,000. SWP Financial LLC purchased a new position in General Dynamics in the 4th quarter worth about $227,000. Finally, Sanibel Captiva Trust Company Inc. acquired a new stake in General Dynamics during the 4th quarter worth about $28,107,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Price Performance

Shares of NYSE:GD opened at $297.29 on Friday. The stock has a market capitalization of $81.57 billion, a P/E ratio of 24.25, a P/E/G ratio of 1.64 and a beta of 0.61. The business has a 50-day moving average of $290.74 and a two-hundred day moving average of $288.67. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $302.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.70 earnings per share. On average, equities research analysts predict that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.91%. General Dynamics’s payout ratio is presently 46.33%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. 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 research report on Thursday, May 23rd. Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, BTIG Research assumed coverage on General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics 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.