Courier Capital LLC Lowers Stock Holdings in General Dynamics Co. (NYSE:GD)

Courier Capital LLC cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,576 shares of the aerospace company’s stock after selling 79 shares during the quarter. Courier Capital LLC’s holdings in General Dynamics were worth $2,289,000 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. Kingsview Wealth Management LLC grew its holdings in General Dynamics by 87.6% in the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after purchasing an additional 6,858 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of General Dynamics during the 1st quarter worth $493,000. Wealth Enhancement Advisory Services LLC raised its position in shares of General Dynamics by 2.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock worth $41,734,000 after buying an additional 3,531 shares during the period. Cetera Investment Advisers boosted its holdings in General Dynamics by 291.4% in the first quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock valued at $27,271,000 after acquiring an additional 71,871 shares during the last quarter. Finally, Peak Financial Advisors LLC purchased a new stake in General Dynamics during the third quarter valued at about $3,022,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Dynamics

In other 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 value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GD has been the topic of several research analyst reports. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays raised their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $334.00 to $317.00 in a research report on Tuesday, October 1st. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $320.18.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $304.40 on Thursday. 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 1 year low of $232.29 and a 1 year high of $313.11. The firm’s 50-day simple moving average is $300.17 and its 200-day simple moving average is $294.55. The firm has a market cap of $83.52 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (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 net margin of 7.89% and a return on equity of 16.74%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.70 EPS. Equities analysts forecast that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) 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.