Condor Capital Management Sells 193 Shares of General Dynamics Co. (NYSE:GD)

Condor Capital Management lessened its position in General Dynamics Co. (NYSE:GD) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,101 shares of the aerospace company’s stock after selling 193 shares during the quarter. Condor Capital Management’s holdings in General Dynamics were worth $2,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Westover Capital Advisors LLC boosted its position in General Dynamics by 58.9% during the second quarter. Westover Capital Advisors LLC now owns 5,374 shares of the aerospace company’s stock valued at $1,559,000 after buying an additional 1,991 shares during the period. Pinkerton Retirement Specialists LLC boosted its position in General Dynamics by 6.6% during the second quarter. Pinkerton Retirement Specialists LLC now owns 8,094 shares of the aerospace company’s stock valued at $2,348,000 after buying an additional 501 shares during the period. GHP Investment Advisors Inc. boosted its position in General Dynamics by 1.1% during the second quarter. GHP Investment Advisors Inc. now owns 20,884 shares of the aerospace company’s stock valued at $6,059,000 after buying an additional 228 shares during the period. Meeder Advisory Services Inc. boosted its position in General Dynamics by 41.1% during the second quarter. Meeder Advisory Services Inc. now owns 5,038 shares of the aerospace company’s stock valued at $1,462,000 after buying an additional 1,467 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in General Dynamics by 385.2% during the second quarter. Meeder Asset Management Inc. now owns 131 shares of the aerospace company’s stock valued at $38,000 after buying an additional 104 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of GD opened at $304.83 on Friday. The company has a market capitalization of $83.63 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. 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 firm has a 50 day moving average of $292.48 and a 200 day moving average of $289.87. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $306.51.

General Dynamics (NYSE:GD) last announced its quarterly earnings results 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). The firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the business earned $2.70 EPS. As a group, equities research analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business 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 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GD shares. BTIG Research started coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Barclays increased their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Finally, Sanford C. Bernstein increased their target price on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $315.06.

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.