Asset Dedication LLC Sells 66 Shares of General Dynamics Co. (NYSE:GD)

Asset Dedication LLC cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,031 shares of the aerospace company’s stock after selling 66 shares during the period. Asset Dedication LLC’s holdings in General Dynamics were worth $1,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GD. Redmont Wealth Advisors LLC bought a new position in shares of General Dynamics in the first quarter valued at about $25,000. American Capital Advisory LLC acquired a new stake in General Dynamics in the 2nd quarter valued at about $29,000. Lowe Wealth Advisors LLC bought a new position in shares of General Dynamics in the third quarter worth about $30,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics during the first quarter worth approximately $29,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of General Dynamics during the first quarter valued at approximately $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup upped their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. BTIG Research assumed coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Finally, Wells Fargo & Company downgraded shares of 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. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.06.

General Dynamics Trading Up 1.6 %

GD opened at $304.87 on Thursday. The stock has a market capitalization of $83.65 billion, a P/E ratio of 24.87, a P/E/G ratio of 1.67 and a beta of 0.61. 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 Co. has a 12 month low of $232.29 and a 12 month 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.

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

General Dynamics Dividend Announcement

The firm 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 $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.86%. General Dynamics’s dividend payout ratio (DPR) is presently 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.