General Dynamics Co. (NYSE:GD) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. decreased its holdings in General Dynamics Co. (NYSE:GD) by 1.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,325 shares of the aerospace company’s stock after selling 86 shares during the quarter. Cullen Investment Group LTD.’s holdings in General Dynamics were worth $1,609,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gladstone Capital Management LLP purchased a new position in General Dynamics in the 4th quarter worth about $3,869,000. SWP Financial LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth about $227,000. Sanibel Captiva Trust Company Inc. acquired a new stake in General Dynamics in the fourth quarter valued at approximately $28,107,000. Evercore Wealth Management LLC lifted its position in shares of General Dynamics by 1.5% in the fourth quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock worth $1,391,000 after buying an additional 78 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its position in General Dynamics by 87.6% during the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock worth $4,150,000 after purchasing an additional 6,858 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GD. BTIG Research assumed coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $334.00 to $317.00 in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Barclays boosted their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $317.06.

General Dynamics Stock Performance

Shares of NYSE GD traded up $1.05 during trading on Friday, hitting $300.66. The company had a trading volume of 877,409 shares, compared to its average volume of 1,101,439. 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 Co. has a 12 month low of $214.53 and a 12 month high of $309.97. The firm has a market capitalization of $82.49 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The stock has a 50 day simple moving average of $297.27 and a 200 day simple moving average of $292.93.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share 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 analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.70 earnings per share. As a group, analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated 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 owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.52% of the company’s stock.

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.