Carnegie Investment Counsel Sells 445 Shares of General Dynamics Co. (NYSE:GD)

Carnegie Investment Counsel cut its position in shares of General Dynamics Co. (NYSE:GD) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,558 shares of the aerospace company’s stock after selling 445 shares during the quarter. Carnegie Investment Counsel’s holdings in General Dynamics were worth $2,888,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new position in shares of General Dynamics during the 4th quarter valued at about $25,000. Redmont Wealth Advisors LLC bought a new position in General Dynamics during the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in General Dynamics during the 1st quarter worth approximately $29,000. New Covenant Trust Company N.A. bought a new position in General Dynamics during the 1st quarter worth approximately $29,000. Finally, American Capital Advisory LLC bought a new position in General Dynamics during the 2nd quarter worth approximately $29,000. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GD. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Barclays increased their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $319.06.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is owned by company insiders.

General Dynamics Stock Up 1.1 %

Shares of NYSE:GD opened at $299.44 on Monday. The stock has a fifty day simple moving average of $297.70 and a two-hundred day simple moving average of $293.71. The stock has a market capitalization of $82.16 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 12-month low of $232.29 and a 12-month high of $309.97. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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 company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.70 EPS. On average, research analysts anticipate that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 yield of 1.90%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

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.