1832 Asset Management L.P. Cuts Stock Position in General Dynamics Co. (NYSE:GD)

1832 Asset Management L.P. cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 97.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,346 shares of the aerospace company’s stock after selling 542,240 shares during the period. 1832 Asset Management L.P.’s holdings in General Dynamics were worth $4,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. MeadowBrook Investment Advisors LLC acquired a new position in shares of General Dynamics during the fourth quarter worth about $25,000. Richardson Financial Services Inc. acquired a new position in shares of General Dynamics during the fourth quarter worth about $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of General Dynamics during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics during the first quarter worth about $29,000. Finally, Legend Financial Advisors Inc. grew its position in shares of General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after buying an additional 36 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GD shares. The Goldman Sachs Group boosted their price objective on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Citigroup upped their price target on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 25th. StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Barclays upped their price target on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, BTIG Research began coverage on General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $311.33.

General Dynamics Stock Performance

Shares of GD stock traded down $0.58 during trading hours on Friday, hitting $290.40. The stock had a trading volume of 1,079,838 shares, compared to its average volume of 1,187,075. General Dynamics Co. has a twelve month low of $214.53 and a twelve month 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 0.87. The stock’s 50 day moving average is $292.65 and its 200 day moving average is $282.38. The firm has a market capitalization of $79.80 billion, a PE ratio of 23.69, a PEG ratio of 1.67 and a beta of 0.60.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter last year, the company earned $2.70 EPS. General Dynamics’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, research analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Transactions at General Dynamics

In other General Dynamics news, VP William A. Moss sold 21,050 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $294.85, for a total value of $6,206,592.50. Following the completion of the transaction, the vice president now owns 16,624 shares in the company, valued at $4,901,586.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the transaction, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William A. Moss sold 21,050 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $294.85, for a total value of $6,206,592.50. Following the completion of the transaction, the vice president now owns 16,624 shares of the company’s stock, valued at approximately $4,901,586.40. The disclosure for this sale can be found here. Insiders sold 68,636 shares of company stock worth $20,209,317 over the last 90 days. 1.52% of the stock is currently owned by insiders.

About General Dynamics

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.