Smith Chas P & Associates PA Cpas Sells 1,854 Shares of General Dynamics Co. (NYSE:GD)

Smith Chas P & Associates PA Cpas lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 116,808 shares of the aerospace company’s stock after selling 1,854 shares during the quarter. General Dynamics accounts for approximately 2.0% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its 24th largest holding. Smith Chas P & Associates PA Cpas’ holdings in General Dynamics were worth $35,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Voisard Asset Management Group Inc. acquired a new stake in shares of General Dynamics in the 4th quarter valued at about $36,000. Chicago Partners Investment Group LLC lifted its stake in General Dynamics by 16.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 1,481 shares of the aerospace company’s stock valued at $387,000 after acquiring an additional 209 shares in the last quarter. Syon Capital LLC boosted its position in General Dynamics by 30.0% during the 4th quarter. Syon Capital LLC now owns 2,026 shares of the aerospace company’s stock worth $526,000 after acquiring an additional 468 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of General Dynamics by 28.6% during the 4th quarter. EP Wealth Advisors LLC now owns 16,593 shares of the aerospace company’s stock worth $4,309,000 after acquiring an additional 3,694 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $33,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

NYSE GD opened at $299.44 on Monday. The company has a market capitalization of $82.16 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.67 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. General Dynamics Co. has a twelve month low of $232.29 and a twelve month high of $309.97. The stock has a fifty day simple moving average of $297.70 and a 200 day simple moving average of $293.71.

General Dynamics (NYSE:GD) last posted its quarterly earnings data 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 company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.70 earnings per share. Sell-side analysts expect that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Dividend Announcement

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 given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.90%. General Dynamics’s payout ratio is 46.33%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GD shares. BTIG Research began coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Robert W. Baird reissued an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Barclays upped their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Seven investment 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 company’s stock. According to MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $319.06.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.52% of the company’s stock.

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.