General Dynamics Co. (NYSE:GD) is Eliot Finkel Investment Counsel LLC’s 4th Largest Position

Eliot Finkel Investment Counsel LLC reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 0.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 27,712 shares of the aerospace company’s stock after selling 265 shares during the period. General Dynamics accounts for 5.1% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its 4th largest position. Eliot Finkel Investment Counsel LLC’s holdings in General Dynamics were worth $8,375,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Alaska Permanent Fund Corp grew its position in General Dynamics by 38.0% during the first quarter. Alaska Permanent Fund Corp now owns 2,151 shares of the aerospace company’s stock valued at $608,000 after acquiring an additional 592 shares during the period. Banque Cantonale Vaudoise increased its position in General Dynamics by 1,053.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 150 shares of the aerospace company’s stock worth $42,000 after purchasing an additional 137 shares in the last quarter. Park Avenue Securities LLC raised its holdings in General Dynamics by 1.8% in the first quarter. Park Avenue Securities LLC now owns 8,421 shares of the aerospace company’s stock valued at $2,379,000 after buying an additional 145 shares during the period. RFG Advisory LLC lifted its position in General Dynamics by 9.5% during the first quarter. RFG Advisory LLC now owns 7,240 shares of the aerospace company’s stock valued at $2,045,000 after buying an additional 630 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its stake in General Dynamics by 8.2% during the first quarter. Gulf International Bank UK Ltd now owns 1,500 shares of the aerospace company’s stock worth $423,000 after buying an additional 114 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The trade was 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 the SEC website. 1.52% of the stock is owned by insiders.

General Dynamics Stock Up 0.1 %

NYSE:GD opened at $308.42 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The stock has a 50-day simple moving average of $299.34 and a 200 day simple moving average of $294.26. General Dynamics Co. has a one year low of $232.29 and a one year high of $310.58. The company has a market capitalization of $84.62 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly 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). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the business posted $2.70 earnings per share. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. Sell-side analysts predict that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.84%. General Dynamics’s dividend payout ratio is currently 46.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Susquehanna boosted their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday. Finally, Citigroup increased their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $320.18.

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.