Schulhoff & Co. Inc. Trims Stock Position in General Dynamics Corporation $GD

Schulhoff & Co. Inc. lessened its holdings in shares of General Dynamics Corporation (NYSE:GD) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,346 shares of the aerospace company’s stock after selling 273 shares during the period. General Dynamics makes up 1.5% of Schulhoff & Co. Inc.’s holdings, making the stock its 17th biggest position. Schulhoff & Co. Inc.’s holdings in General Dynamics were worth $3,309,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GD. 1858 Wealth Management LLC boosted its position in General Dynamics by 1.0% during the second quarter. 1858 Wealth Management LLC now owns 3,256 shares of the aerospace company’s stock worth $950,000 after acquiring an additional 32 shares during the last quarter. Nicholson Wealth Management Group LLC grew its stake in shares of General Dynamics by 0.5% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 6,582 shares of the aerospace company’s stock valued at $1,920,000 after buying an additional 33 shares during the period. Crewe Advisors LLC increased its holdings in shares of General Dynamics by 10.9% during the 2nd quarter. Crewe Advisors LLC now owns 347 shares of the aerospace company’s stock worth $101,000 after buying an additional 34 shares during the last quarter. Salvus Wealth Management LLC raised its position in shares of General Dynamics by 2.9% during the 2nd quarter. Salvus Wealth Management LLC now owns 1,274 shares of the aerospace company’s stock valued at $372,000 after buying an additional 36 shares during the period. Finally, Principal Securities Inc. raised its position in shares of General Dynamics by 0.5% during the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company’s stock valued at $2,161,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the sale, the executive vice president directly owned 45,192 shares of the company’s stock, valued at $14,244,518.40. This represents a 42.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Malcolm sold 3,220 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $329.45, for a total transaction of $1,060,829.00. Following the sale, the director directly owned 10,186 shares in the company, valued at approximately $3,355,777.70. The trade was a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock worth $86,414,503 over the last 90 days. Company insiders own 1.50% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock opened at $340.73 on Wednesday. The company’s 50 day simple moving average is $327.84 and its 200-day simple moving average is $300.15. The company has a market capitalization of $91.65 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 2.07 and a beta of 0.47. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $347.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. During the same period in the prior year, the firm earned $3.26 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s dividend payout ratio is presently 40.27%.

Analysts Set New Price Targets

Several analysts have recently commented on GD shares. The Goldman Sachs Group lifted their price target on shares of General Dynamics from $280.00 to $293.00 and gave the company a “sell” rating in a research report on Friday, October 10th. TD Cowen lifted their price target on shares of General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. UBS Group lifted their price target on shares of General Dynamics from $309.00 to $333.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Wolfe Research boosted their price target on shares of General Dynamics from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the company a “market perform” rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, General Dynamics currently has a consensus rating of “Hold” and an average target price of $327.44.

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.