Pathway Financial Advisers LLC Sells 170 Shares of General Dynamics Co. (NYSE:GD)

Pathway Financial Advisers LLC trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,050 shares of the aerospace company’s stock after selling 170 shares during the period. Pathway Financial Advisers LLC’s holdings in General Dynamics were worth $1,526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake 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 valued at $2,216,599,000 after acquiring an additional 293,316 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 worth $1,351,041,000 after purchasing an additional 115,063 shares during the period. Ameriprise Financial Inc. lifted its stake in General Dynamics by 2.4% in the second 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 grew its holdings in General Dynamics by 1.4% during the first 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 period. Finally, Bank of New York Mellon Corp increased its position in General Dynamics by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after buying an additional 23,304 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of GD opened at $302.52 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $300.40 and a 200-day moving average price of $294.71. The company has a market cap of $83.13 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a 12-month low of $236.58 and a 12-month high of $313.11.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 EPS. As a group, equities analysts forecast that General Dynamics Co. will post 14.27 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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 given a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. General Dynamics’s payout ratio is 44.31%.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank of Canada upped 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. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Citigroup boosted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Barclays boosted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $323.88.

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.