Asset Dedication LLC Trims Stock Position in General Dynamics Co. (NYSE:GD)

Asset Dedication LLC lowered its position in shares of General Dynamics Co. (NYSE:GD) by 17.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,108 shares of the aerospace company’s stock after selling 238 shares during the period. Asset Dedication LLC’s holdings in General Dynamics were worth $201,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bank of The West grew its stake in General Dynamics by 16.0% during the second quarter. Bank of The West now owns 24,024 shares of the aerospace company’s stock valued at $4,368,000 after acquiring an additional 3,319 shares in the last quarter. Holowesko Partners Ltd. grew its stake in General Dynamics by 22.1% in the 2nd quarter. Holowesko Partners Ltd. now owns 13,800 shares of the aerospace company’s stock worth $2,509,000 after buying an additional 2,500 shares in the last quarter. Confluence Investment Management LLC grew its stake in General Dynamics by 4.7% in the 2nd quarter. Confluence Investment Management LLC now owns 103,483 shares of the aerospace company’s stock worth $18,815,000 after buying an additional 4,606 shares in the last quarter. Connecticut Wealth Management LLC grew its stake in General Dynamics by 11.5% in the 2nd quarter. Connecticut Wealth Management LLC now owns 1,857 shares of the aerospace company’s stock worth $338,000 after buying an additional 191 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in General Dynamics by 6.5% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,066 shares of the aerospace company’s stock worth $1,830,000 after buying an additional 613 shares in the last quarter. 86.26% of the stock is owned by institutional investors.

In related news, EVP Christopher Marzilli sold 32,930 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $187.16, for a total transaction of $6,163,178.80. Following the completion of the sale, the executive vice president now directly owns 100,557 shares in the company, valued at approximately $18,820,248.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Mark Lagrand Burns purchased 159 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $179.56 per share, with a total value of $28,550.04. Following the completion of the acquisition, the vice president now directly owns 39,643 shares in the company, valued at $7,118,297.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 48,459 shares of company stock valued at $9,079,802. Company insiders own 7.10% of the company’s stock.

Shares of GD opened at $174.43 on Friday. The firm has a market cap of $50.38 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.72 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.73 and a current ratio of 1.09. General Dynamics Co. has a fifty-two week low of $143.87 and a fifty-two week high of $193.76. The firm has a 50 day moving average price of $184.59 and a 200-day moving average price of $178.83.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.09. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.36 billion. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.82 EPS. As a group, equities research analysts predict that General Dynamics Co. will post 11.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.34%. General Dynamics’s payout ratio is 35.73%.

GD has been the subject of a number of research reports. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price target for the company in a research note on Monday, September 2nd. Cowen set a $202.00 price target on shares of General Dynamics and gave the stock a “buy” rating in a research note on Friday, August 30th. Morgan Stanley cut their price target on shares of General Dynamics from $173.00 to $172.00 and set an “underweight” rating for the company in a research note on Thursday, October 10th. Robert W. Baird boosted their price target on shares of General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Finally, Barclays set a $215.00 price target on shares of General Dynamics and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. General Dynamics has a consensus rating of “Hold” and a consensus target price of $193.58.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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