Glassy Mountain Advisors Inc. Reduces Position in General Dynamics Co. (NYSE:GD)

Glassy Mountain Advisors Inc. decreased its position in General Dynamics Co. (NYSE:GD) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,364 shares of the aerospace company’s stock after selling 306 shares during the period. General Dynamics accounts for approximately 2.2% of Glassy Mountain Advisors Inc.’s investment portfolio, making the stock its 19th largest position. Glassy Mountain Advisors Inc.’s holdings in General Dynamics were worth $5,908,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GD. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of General Dynamics in the fourth quarter valued at approximately $26,520,000. Gilbert & Cook Inc. grew its stake in General Dynamics by 5.1% during the 4th quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company’s stock valued at $652,000 after purchasing an additional 122 shares in the last quarter. Van ECK Associates Corp grew its position in shares of General Dynamics by 0.6% in the 4th quarter. Van ECK Associates Corp now owns 32,109 shares of the aerospace company’s stock worth $8,337,000 after acquiring an additional 181 shares in the last quarter. Savant Capital LLC lifted its stake in General Dynamics by 3.9% in the fourth quarter. Savant Capital LLC now owns 4,438 shares of the aerospace company’s stock valued at $1,153,000 after buying an additional 166 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of General Dynamics by 2.6% during the fourth quarter. Victory Capital Management Inc. now owns 334,706 shares of the aerospace company’s stock worth $86,913,000 after buying an additional 8,585 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 0.5 %

GD traded up $1.53 on Friday, hitting $299.36. 1,033,038 shares of the company were exchanged, compared to its average volume of 947,283. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $302.75. The firm has a 50-day moving average price of $290.64 and a two-hundred day moving average price of $288.05. 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 company has a market cap of $82.26 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 1.64 and a beta of 0.60.

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

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GD shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Wells Fargo & Company lifted their price target on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays lifted their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $293.00 to $345.00 in a report on Friday, August 9th. Finally, BTIG Research initiated coverage on shares of General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.