Smith Chas P & Associates PA Cpas Decreases Stake in General Dynamics Co. (NYSE:GD)

Smith Chas P & Associates PA Cpas cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 116,808 shares of the aerospace company’s stock after selling 1,854 shares during the quarter. General Dynamics comprises approximately 2.0% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its 24th biggest position. Smith Chas P & Associates PA Cpas’ holdings in General Dynamics were worth $35,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GD. Voisard Asset Management Group Inc. bought a new position in General Dynamics in the 4th quarter worth approximately $36,000. Chicago Partners Investment Group LLC lifted its position in shares of General Dynamics by 16.4% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,481 shares of the aerospace company’s stock worth $387,000 after acquiring an additional 209 shares in the last quarter. Syon Capital LLC boosted its holdings in shares of General Dynamics by 30.0% in the fourth 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 period. EP Wealth Advisors LLC raised 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 valued at $4,309,000 after purchasing an additional 3,694 shares during the period. Finally, Scarborough Advisors LLC purchased a new stake in General Dynamics during the 4th quarter worth about $33,000. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GD shares. BTIG Research began coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Citigroup raised their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. Seven 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.06.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.52% of the stock is owned by insiders.

General Dynamics Price Performance

GD stock opened at $299.44 on Monday. The firm has a market cap of $82.16 billion, a P/E ratio of 24.42, a P/E/G ratio of 1.67 and a beta of 0.61. The firm’s fifty day moving average is $297.70 and its 200 day moving average is $293.71. General Dynamics Co. has a 52 week low of $232.29 and a 52 week high of $309.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the business posted $2.70 earnings per share. Research analysts predict that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

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.