General Dynamics Co. (NYSE:GD) Shares Sold by FDx Advisors Inc.

FDx Advisors Inc. cut its stake in General Dynamics Co. (NYSE:GD) by 73.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 754 shares of the aerospace company’s stock after selling 2,076 shares during the period. FDx Advisors Inc.’s holdings in General Dynamics were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GD. Eudaimonia Partners LLC acquired a new stake in General Dynamics in the 4th quarter valued at about $240,000. Principal Securities Inc. purchased a new stake in shares of General Dynamics in the fourth quarter valued at about $1,056,000. Gladstone Capital Management LLP purchased a new position in shares of General Dynamics during the 4th quarter worth approximately $3,869,000. SWP Financial LLC acquired a new position in shares of General Dynamics during the 4th quarter worth approximately $227,000. Finally, Sanibel Captiva Trust Company Inc. purchased a new stake in General Dynamics in the 4th quarter valued at approximately $28,107,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GD shares. Sanford C. Bernstein raised their price target on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Barclays upped 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. Wells Fargo & Company lifted their price target on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Price Performance

GD stock opened at $297.29 on Friday. The stock has a 50-day moving average price of $290.74 and a two-hundred day moving average price of $288.67. The company has a market cap of $81.57 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $302.75.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business 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 firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the company posted $2.70 EPS. As a group, research analysts predict that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, October 11th. 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.