Brown Lisle Cummings Inc. Reduces Stock Holdings in General Dynamics Co. (NYSE:GD)

Brown Lisle Cummings Inc. trimmed its holdings in General Dynamics Co. (NYSE:GD) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,631 shares of the aerospace company’s stock after selling 51 shares during the period. Brown Lisle Cummings Inc.’s holdings in General Dynamics were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. lifted its holdings in shares of General Dynamics by 2,189.3% in the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after purchasing an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of General Dynamics by 879.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after purchasing an additional 305,624 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in General Dynamics by 4.0% in the 2nd 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 buying an additional 293,316 shares in the last quarter. Hsbc Holdings PLC grew its holdings in General Dynamics by 24.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock valued at $391,119,000 after buying an additional 262,164 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its position in General Dynamics by 174.8% during the second quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock worth $111,458,000 after buying an additional 244,373 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $308.48 on Monday. The business’s 50-day simple moving average is $299.34 and its 200 day simple moving average is $294.30. The company has a market cap of $84.64 billion, a P/E ratio of 25.16, a PEG ratio of 1.67 and a beta of 0.61. 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 one year low of $232.29 and a one year high of $310.58.

General Dynamics (NYSE:GD) last announced 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 firm had revenue of $11.98 billion during 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%. General Dynamics’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.70 earnings per share. On average, sell-side analysts forecast that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on GD shares. Morgan Stanley upgraded 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 report on Friday, August 9th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, BTIG Research began coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $320.18.

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.