Arlington Partners LLC Sells 338 Shares of General Dynamics Co. (NYSE:GD)

Arlington Partners LLC lessened its position in shares of General Dynamics Co. (NYSE:GD) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,093 shares of the aerospace company’s stock after selling 338 shares during the quarter. Arlington Partners LLC’s holdings in General Dynamics were worth $3,219,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GD. Norges Bank purchased a new stake in General Dynamics during the 4th quarter worth approximately $728,284,000. Verity & Verity LLC purchased a new stake in General Dynamics during the 1st quarter worth approximately $179,000. 1832 Asset Management L.P. grew its position in General Dynamics by 3,645.4% during the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after purchasing an additional 543,672 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in General Dynamics by 879.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after purchasing an additional 305,624 shares during the last quarter. Finally, Junto Capital Management LP purchased a new stake in General Dynamics during the 4th quarter worth approximately $43,733,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE GD traded up $1.53 during mid-day trading on Friday, reaching $299.36. 1,033,038 shares of the stock were exchanged, compared to its average volume of 947,283. The business’s 50 day moving average is $290.64 and its 200-day moving average is $288.05. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $302.75. The company has a market capitalization of $82.26 billion, a P/E ratio of 24.42, a P/E/G ratio of 1.64 and a beta of 0.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share 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 analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.70 earnings per share. On average, equities research analysts forecast that General Dynamics Co. will post 14.52 EPS 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 given 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 dividend payout ratio is presently 46.33%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. BTIG Research began coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Sanford C. Bernstein upped their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Finally, Wells Fargo & Company upped their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $315.06.

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.