Fiduciary Family Office LLC Lowers Stock Holdings in General Dynamics Co. (NYSE:GD)

Fiduciary Family Office LLC reduced its holdings in General Dynamics Co. (NYSE:GD) by 5.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,980 shares of the aerospace company’s stock after selling 162 shares during the quarter. Fiduciary Family Office LLC’s holdings in General Dynamics were worth $900,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GD. International Assets Investment Management LLC raised its holdings in General Dynamics by 40,389.3% during the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in General Dynamics by 2,189.3% during the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after purchasing an additional 357,861 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in General Dynamics by 879.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after purchasing an additional 305,624 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of General Dynamics by 4.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after acquiring an additional 293,316 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of General Dynamics by 24.2% in the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after acquiring an additional 262,164 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 directly owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays lifted their price objective on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Morgan Stanley raised 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. Wells Fargo & Company boosted their price target on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price target on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Stock Performance

Shares of NYSE:GD traded up $2.25 during trading on Tuesday, hitting $295.85. 127,240 shares of the company traded hands, compared to its average volume of 1,092,668. The stock has a market capitalization of $81.35 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.75 and a beta of 0.61. The business’s fifty day moving average is $300.88 and its 200-day moving average is $295.23. General Dynamics Co. has a one year low of $238.31 and a one year high of $313.11. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $3.04 earnings per share. As a group, equities analysts predict that General Dynamics Co. will post 13.97 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 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 43.26%.

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.