General Dynamics Co. (NYSE:GD) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. decreased its position in shares of General Dynamics Co. (NYSE:GD) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,827 shares of the aerospace company’s stock after selling 400 shares during the quarter. Moors & Cabot Inc.’s holdings in General Dynamics were worth $1,691,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of GD. 1832 Asset Management L.P. boosted its holdings in shares of General Dynamics by 3,645.4% during the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after acquiring an additional 543,672 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in shares of 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 valued at $96,148,000 after acquiring an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in 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 purchasing an additional 293,316 shares during the period. Junto Capital Management LP acquired a new stake in General Dynamics in the fourth quarter worth about $43,733,000. Finally, Bahl & Gaynor Inc. lifted its holdings in General Dynamics by 5,398.1% in the first quarter. Bahl & Gaynor Inc. now owns 168,461 shares of the aerospace company’s stock worth $47,589,000 after purchasing an additional 165,397 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD opened at $303.85 on Wednesday. General Dynamics Co. has a one year low of $214.53 and a one year high of $309.97. The company has a 50-day moving average of $293.51 and a two-hundred day moving average of $290.56. The stock has a market cap of $83.37 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion for 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%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.70 earnings per share. On average, equities research analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared 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. This represents a $5.68 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Barclays upped their price objective 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. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Sanford C. Bernstein upped their price target on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $315.06.

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.