Northwestern Mutual Wealth Management Co. Trims Stock Position in General Dynamics Co. (NYSE:GD)

Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,648 shares of the aerospace company’s stock after selling 237 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in General Dynamics were worth $10,922,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. purchased a new stake in General Dynamics during the 4th quarter worth about $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of General Dynamics in the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of General Dynamics during the first quarter valued at approximately $29,000. New Covenant Trust Company N.A. acquired a new stake in General Dynamics during the first quarter worth approximately $29,000. Finally, American Capital Advisory LLC purchased a new stake in General Dynamics in the 2nd quarter worth approximately $29,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of NYSE GD opened at $305.32 on Wednesday. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97. The company has a market cap of $83.77 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.68 and a beta of 0.61. The business’s 50 day moving average is $296.51 and its two-hundred day moving average is $292.64. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The firm had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.70 EPS. On average, equities analysts expect that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. General Dynamics’s dividend payout ratio is presently 46.33%.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company downgraded General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $334.00 to $317.00 in a research report on Tuesday. 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. Robert W. Baird reissued an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. BTIG Research assumed coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Finally, Barclays lifted their price target 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 twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $317.41.

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.