MPS Loria Financial Planners LLC Sells 200 Shares of General Dynamics Co. (NYSE:GD)

MPS Loria Financial Planners LLC cut its position in General Dynamics Co. (NYSE:GD) by 17.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 932 shares of the aerospace company’s stock after selling 200 shares during the quarter. MPS Loria Financial Planners LLC’s holdings in General Dynamics were worth $282,000 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. Redmont Wealth Advisors LLC bought a new stake in General Dynamics in the first quarter valued at approximately $25,000. American Capital Advisory LLC acquired a new position in General Dynamics during the second quarter worth $29,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics in the third quarter valued at $30,000. New Covenant Trust Company N.A. acquired a new stake in General Dynamics in the first quarter valued at $29,000. Finally, Atlantic Edge Private Wealth Management LLC lifted its stake in General Dynamics by 120.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Trading Down 0.1 %

Shares of GD stock opened at $308.22 on Tuesday. General Dynamics Co. has a 52-week low of $232.29 and a 52-week high of $310.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The firm has a market capitalization of $84.56 billion, a PE ratio of 25.14, a PEG ratio of 1.67 and a beta of 0.61. The stock has a fifty day simple moving average of $299.68 and a two-hundred day simple moving average of $294.41.

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 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 firm had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the business earned $2.70 EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts predict that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Analyst Ratings Changes

GD has been the subject of a number of research reports. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Wells Fargo & Company downgraded General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft dropped their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Barclays increased their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $320.18.

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.