Murphy Capital Management Inc. Sells 185 Shares of General Dynamics Co. (NYSE:GD)

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Murphy Capital Management Inc. trimmed its stake in General Dynamics Co. (NYSE:GD) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,887 shares of the aerospace company’s stock after selling 185 shares during the period. Murphy Capital Management Inc.’s holdings in General Dynamics were worth $2,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC acquired a new position in General Dynamics during the 2nd quarter valued at about $29,000. Kings Point Capital Management purchased a new stake in General Dynamics during the 2nd quarter valued at about $36,000. TCG Advisors LP purchased a new stake in General Dynamics during the 1st quarter valued at about $38,000. Princeton Global Asset Management LLC purchased a new stake in General Dynamics during the 1st quarter valued at about $42,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in shares of General Dynamics in the second quarter worth about $46,000. 86.25% of the stock is owned by hedge funds and other institutional investors.

In other General Dynamics news, EVP Christopher Marzilli sold 32,930 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $187.16, for a total transaction of $6,163,178.80. Following the completion of the transaction, the executive vice president now owns 100,557 shares of the company’s stock, valued at $18,820,248.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gary L. Whited sold 14,029 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the transaction, the vice president now directly owns 37,542 shares of the company’s stock, valued at approximately $7,072,161.96. The disclosure for this sale can be found here. Insiders have sold 48,459 shares of company stock worth $9,079,802 in the last quarter. 7.10% of the stock is currently owned by company insiders.

A number of analysts have recently commented on GD shares. Cowen set a $202.00 target price on General Dynamics and gave the stock a “buy” rating in a research note on Friday, August 30th. Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 target price on the stock in a research note on Monday, September 2nd. Robert W. Baird upped their target price on General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Finally, Morgan Stanley lowered their target price on General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $193.29.

GD stock traded up $3.59 during mid-day trading on Friday, reaching $180.28. 28,706 shares of the company’s stock were exchanged, compared to its average volume of 1,566,269. The company has a market cap of $51.04 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. The stock’s 50 day moving average is $185.66 and its 200 day moving average is $178.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.09 and a quick ratio of 0.73. General Dynamics Co. has a 12-month low of $143.87 and a 12-month high of $198.16.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.36 billion. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. General Dynamics’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.82 earnings per share. On average, research analysts forecast that General Dynamics Co. will post 11.88 earnings per share for the current fiscal year.

The firm 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 dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a yield of 2.26%. General Dynamics’s dividend payout ratio is currently 35.73%.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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