Congress Park Capital LLC Sells 625 Shares of General Dynamics Co. (NYSE:GD)

Congress Park Capital LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 33.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,235 shares of the aerospace company’s stock after selling 625 shares during the quarter. Congress Park Capital LLC’s holdings in General Dynamics were worth $373,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its stake in shares of General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after acquiring an additional 293,316 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in General Dynamics by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after purchasing an additional 115,063 shares during the period. Ameriprise Financial Inc. boosted its stake in General Dynamics by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after purchasing an additional 47,915 shares during the period. Boston Partners boosted its stake in General Dynamics by 1.4% in the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after purchasing an additional 23,262 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in General Dynamics by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after purchasing an additional 23,304 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 0.8 %

GD stock traded up $2.45 during midday trading on Friday, reaching $298.50. The company’s stock had a trading volume of 346,874 shares, compared to its average volume of 1,092,232. 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 fifty day simple moving average of $297.56 and a two-hundred day simple moving average of $293.37. General Dynamics Co. has a 1 year low of $232.29 and a 1 year high of $309.97. The firm has a market capitalization of $82.02 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its earnings results 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). 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 analysts’ expectations of $11.46 billion. During the same quarter in the previous year, the business earned $2.70 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts predict that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.90%. General Dynamics’s payout ratio is 44.31%.

Analyst Upgrades and Downgrades

GD has been the subject of several recent analyst reports. Wells Fargo & Company downgraded General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $334.00 to $317.00 in a research note on Tuesday, October 1st. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Barclays upped their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.06.

About General Dynamics

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.