Dakota Wealth Management Decreases Stock Holdings in General Dynamics Co. (NYSE:GD)

Dakota Wealth Management cut its stake in General Dynamics Co. (NYSE:GD) by 87.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,230 shares of the aerospace company’s stock after selling 38,012 shares during the period. Dakota Wealth Management’s holdings in General Dynamics were worth $1,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings in shares of General Dynamics by 40,389.3% in the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after purchasing an additional 1,376,065 shares during the period. 1832 Asset Management L.P. boosted its holdings in General Dynamics by 2,189.3% in the 2nd 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 during the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after buying an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after buying an additional 293,316 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of 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 period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

GD stock opened at $302.52 on Friday. The business has a 50 day moving average price of $300.40 and a 200 day moving average price of $294.67. 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 stock has a market cap of $83.13 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $236.58 and a fifty-two week high of $313.11.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 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 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.04 EPS. Equities research analysts anticipate that General Dynamics Co. will post 14.27 earnings per share for the current fiscal 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 given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is currently 44.31%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Royal Bank of Canada raised their target price on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays boosted 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company upped their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Sanford C. Bernstein dropped their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $323.88.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on 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 of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.52% of the company’s stock.

General Dynamics Profile

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.