MONECO Advisors LLC Reduces Holdings in General Dynamics Co. (NYSE:GD)

MONECO Advisors LLC lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 11.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,674 shares of the aerospace company’s stock after selling 213 shares during the quarter. MONECO Advisors LLC’s holdings in General Dynamics were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of General Dynamics by 2.5% in the first 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 buying an additional 115,063 shares during the period. Sanders Capital LLC increased its position in General Dynamics by 3.7% during the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after acquiring an additional 147,800 shares during the last quarter. Norges Bank bought a new stake in shares of General Dynamics during the fourth quarter worth $728,284,000. Northern Trust Corp lifted its holdings in General Dynamics by 1.1% during the 4th quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock valued at $592,764,000 after buying an additional 24,395 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of General Dynamics by 1.4% in 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. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GD shares. Argus upped their price target on shares of General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Robert W. Baird reissued an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Citigroup lifted their target price on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Barclays upped their price objective 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. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $315.06.

Insider Activity

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.52% of the company’s stock.

General Dynamics Stock Down 0.4 %

GD stock traded down $1.20 during midday trading on Monday, hitting $295.39. The company’s stock had a trading volume of 112,252 shares, compared to its average volume of 1,058,832. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $81.04 billion, a P/E ratio of 24.19, a PEG ratio of 1.68 and a beta of 0.60. The firm has a 50-day simple moving average of $290.81 and a 200-day simple moving average of $286.31. General Dynamics Co. has a 52-week low of $214.53 and a 52-week high of $302.75.

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 firm 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 company’s revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.70 EPS. As a group, equities analysts forecast that General Dynamics Co. will post 14.5 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.92%. General Dynamics’s dividend payout ratio is presently 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.