General Dynamics Co. (NYSE:GD) Shares Sold by MCF Advisors LLC

MCF Advisors LLC lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100 shares of the aerospace company’s stock after selling 62 shares during the quarter. MCF Advisors LLC’s holdings in General Dynamics were worth $332,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of General Dynamics by 40,389.3% during the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after buying an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after buying an additional 305,624 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after acquiring an additional 293,316 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of General Dynamics by 24.2% during the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock valued at $391,119,000 after acquiring an additional 262,164 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GD. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reduced their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Robert W. Baird restated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Sanford C. Bernstein reduced their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $323.88.

Insider Buying and Selling

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

Shares of NYSE GD traded up $1.25 during mid-day trading on Friday, hitting $302.52. The company had a trading volume of 1,405,397 shares, compared to its average volume of 1,095,718. The stock has a market cap of $83.00 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 1.67 and a beta of 0.61. The firm’s 50 day simple moving average is $300.40 and its two-hundred day simple moving average is $294.67. 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 Co. has a 12 month low of $236.58 and a 12 month high of $313.11.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period last year, the firm posted $3.04 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts forecast that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis 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.