Woodstock Corp Lowers Holdings in General Dynamics Co. (NYSE:GD)

Woodstock Corp cut its stake in General Dynamics Co. (NYSE:GD) by 6.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,637 shares of the aerospace company’s stock after selling 440 shares during the quarter. Woodstock Corp’s holdings in General Dynamics were worth $2,006,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GD. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics in the first quarter valued at approximately $25,000. Richardson Financial Services Inc. acquired a new position in General Dynamics during the fourth quarter worth $25,000. American Capital Advisory LLC acquired a new stake in shares of General Dynamics in the second quarter valued at about $29,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics in the 3rd quarter worth about $30,000. Finally, Financial Synergies Wealth Advisors Inc. purchased a new stake in General Dynamics during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 1.1 %

Shares of NYSE:GD opened at $299.44 on Monday. General Dynamics Co. has a fifty-two week low of $232.29 and a fifty-two week high of $309.97. 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 stock has a market cap of $82.16 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The firm’s 50 day moving average price is $297.70 and its 200 day moving average price is $293.71.

General Dynamics (NYSE:GD) last posted its 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 business had revenue of $11.98 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.70 EPS. As a group, equities research analysts predict that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company 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 $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 dividend yield of 1.90%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Ratings Changes

A number of research firms have recently issued reports on GD. Barclays upped 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. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Citigroup upped their target price on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Wells Fargo & Company cut shares of General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $334.00 to $317.00 in a research report 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $319.06.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

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.