General Dynamics Co. (NYSE:GD) Stake Lessened by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC decreased its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 42,234 shares of the aerospace company’s stock after selling 169 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in General Dynamics were worth $12,763,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. McKinley Carter Wealth Services Inc. boosted its stake in shares of General Dynamics by 3.8% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 7,171 shares of the aerospace company’s stock valued at $2,167,000 after buying an additional 263 shares during the period. Griffin Asset Management Inc. raised its holdings in shares of General Dynamics by 1.1% during the third quarter. Griffin Asset Management Inc. now owns 6,707 shares of the aerospace company’s stock worth $2,027,000 after acquiring an additional 73 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its position in General Dynamics by 11.9% during the third quarter. Jamison Private Wealth Management Inc. now owns 7,828 shares of the aerospace company’s stock valued at $2,366,000 after purchasing an additional 831 shares during the last quarter. Dover Advisors LLC grew its stake in General Dynamics by 74.6% in the third quarter. Dover Advisors LLC now owns 3,257 shares of the aerospace company’s stock valued at $984,000 after purchasing an additional 1,392 shares in the last quarter. Finally, SWS Partners increased its position in General Dynamics by 39,352.6% in the 3rd quarter. SWS Partners now owns 7,496 shares of the aerospace company’s stock worth $2,265,000 after purchasing an additional 7,477 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Up 1.6 %

Shares of GD stock opened at $304.87 on Thursday. The firm has a market capitalization of $83.65 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 1 year low of $232.29 and a 1 year high of $309.97. The firm’s fifty day simple moving average is $298.68 and its 200 day simple moving average is $294.04. 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 posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (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 the consensus estimate of $11.46 billion. During the same quarter in the previous year, the firm posted $2.70 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, sell-side analysts predict that General Dynamics Co. will post 14.38 EPS 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 issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is presently 46.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Robert W. Baird reissued an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays lifted their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $319.06.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s 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 transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.52% of the stock is currently owned by company insiders.

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.