General Dynamics Co. (NYSE:GD) Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lowered its holdings in General Dynamics Co. (NYSE:GD) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,139 shares of the aerospace company’s stock after selling 220 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in General Dynamics were worth $1,203,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Modera Wealth Management LLC grew its position in General Dynamics by 0.4% in the second 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 in the last quarter. Rathbones Group PLC boosted its stake in shares of General Dynamics by 1.8% in the second 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 during the period. Legend Financial Advisors Inc. grew its holdings in General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 36 shares in the last quarter. Diversified Trust Co increased its stake in General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after buying an additional 36 shares during the period. Finally, Fulton Bank N.A. lifted its holdings in General Dynamics by 1.1% in the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.9 %

GD opened at $307.56 on Tuesday. The stock’s 50 day moving average price is $293.02 and its 200 day moving average price is $290.34. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The stock has a market cap of $84.38 billion, a P/E ratio of 25.09, a P/E/G ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97.

General Dynamics (NYSE:GD) last issued its quarterly 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). The business had revenue of $11.98 billion for the quarter, compared to analyst estimates 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 for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the business posted $2.70 earnings per share. As a group, research analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GD shares. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. BTIG Research initiated coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Barclays lifted their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company upped their price objective on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics 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.