General Dynamics Co. (NYSE:GD) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lessened its stake in General Dynamics Co. (NYSE:GD) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,403 shares of the aerospace company’s stock after selling 228 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in General Dynamics were worth $1,633,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Grove Bank & Trust grew its position in General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after buying an additional 34 shares during the period. Modera Wealth Management LLC grew its position in shares of General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares during the period. Rathbones Group PLC increased its stake in shares of General Dynamics by 1.8% in the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after purchasing an additional 35 shares in the last quarter. Legend Financial Advisors Inc. raised its holdings in General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 36 shares during the period. Finally, Diversified Trust Co boosted its position in General Dynamics by 2.5% during the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $334.00 to $317.00 in a research report on Tuesday, October 1st. Susquehanna boosted their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price for the company. Finally, Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and an average target price of $320.18.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the company’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 transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.52% of the stock is owned by insiders.

General Dynamics Stock Up 0.1 %

Shares of GD opened at $308.48 on Friday. The stock has a fifty day simple moving average of $299.34 and a two-hundred day simple moving average of $294.29. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $84.64 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 52-week low of $232.29 and a 52-week high of $310.58.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 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 firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period last year, the firm earned $2.70 earnings per share. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, equities analysts forecast that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Dividend Announcement

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

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.