Fort L.P. Trims Stock Holdings in General Dynamics Co. (NYSE:GD)

Fort L.P. decreased its holdings in General Dynamics Co. (NYSE:GD) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 895 shares of the aerospace company’s stock after selling 85 shares during the period. Fort L.P.’s holdings in General Dynamics were worth $270,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GD. MFA Wealth Advisors LLC boosted its position in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 58 shares during the period. New Covenant Trust Company N.A. purchased a new position in shares of General Dynamics during the first quarter worth approximately $29,000. American Capital Advisory LLC purchased a new position in shares of General Dynamics during the second quarter worth approximately $29,000. Lowe Wealth Advisors LLC purchased a new position in shares of General Dynamics during the third quarter worth approximately $30,000. Finally, Beacon Capital Management LLC increased its stake in shares of General Dynamics by 1,144.4% in the first quarter. Beacon Capital Management LLC now owns 112 shares of the aerospace company’s stock worth $32,000 after buying an additional 103 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD stock traded up $1.38 during mid-day trading on Friday, reaching $292.99. 1,355,480 shares of the company’s stock traded hands, compared to its average volume of 1,034,707. General Dynamics Co. has a 12 month low of $238.31 and a 12 month high of $313.11. The firm has a 50 day moving average price of $300.83 and a two-hundred day moving average price of $295.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The firm has a market capitalization of $80.56 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.75 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.04 EPS. On average, research analysts forecast that General Dynamics Co. will post 13.97 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 43.26%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GD shares. Royal Bank of Canada lifted their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Barclays boosted their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Citigroup boosted 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, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $323.69.

Insider Buying and Selling

In other news, Director Peter A. Wall sold 1,320 shares of the company’s 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 approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is currently owned by insiders.

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.