PFG Advisors Has $3.47 Million Stake in General Dynamics Co. (NYSE:GD)

PFG Advisors decreased its stake in General Dynamics Co. (NYSE:GD) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,468 shares of the aerospace company’s stock after selling 845 shares during the quarter. PFG Advisors’ holdings in General Dynamics were worth $3,466,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its position in General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after purchasing an additional 293,316 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in General Dynamics by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after purchasing an additional 115,063 shares during the last quarter. Ameriprise Financial Inc. raised its position in General Dynamics by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after purchasing an additional 47,915 shares during the last quarter. Boston Partners raised its position in General Dynamics by 1.4% in the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after purchasing an additional 23,262 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in General Dynamics by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after purchasing an additional 23,304 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.5 %

GD stock opened at $300.29 on Wednesday. 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 capitalization of $82.39 billion, a P/E ratio of 24.49, a P/E/G ratio of 1.67 and a beta of 0.61. The business has a 50-day moving average of $298.33 and a 200-day moving average of $293.97. General Dynamics Co. has a fifty-two week low of $232.29 and a fifty-two week high of $309.97.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the company posted $2.70 EPS. The business’s revenue was up 18.0% on a year-over-year basis. On average, sell-side analysts anticipate that General Dynamics Co. will post 14.38 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 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 yield of 1.89%. General Dynamics’s payout ratio is presently 46.33%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Wells Fargo & Company downgraded General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $319.06.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by corporate insiders.

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.