General Dynamics Co. (GD) Holdings Raised by Townsend & Associates Inc

Townsend & Associates Inc raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 28.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,619 shares of the aerospace company’s stock after acquiring an additional 1,028 shares during the quarter. Townsend & Associates Inc’s holdings in General Dynamics were worth $946,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. CSat Investment Advisory L.P. bought a new stake in shares of General Dynamics in the second quarter worth about $101,000. CX Institutional bought a new stake in shares of General Dynamics in the second quarter worth about $107,000. James Investment Research Inc. bought a new stake in shares of General Dynamics in the second quarter worth about $112,000. BerganKDV Wealth Management LLC bought a new stake in shares of General Dynamics in the second quarter worth about $114,000. Finally, Fort L.P. bought a new stake in shares of General Dynamics in the second quarter worth about $117,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the completion of the transaction, the insider now owns 118,555 shares in the company, valued at $22,914,310.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider S. Daniel Johnson sold 77,810 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $199.85, for a total value of $15,550,328.50. Following the transaction, the insider now owns 99,333 shares of the company’s stock, valued at approximately $19,851,700.05. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.



Several equities research analysts have recently issued reports on GD shares. Cowen reaffirmed a “buy” rating and issued a $253.00 target price on shares of General Dynamics in a report on Monday, October 15th. Credit Suisse Group reduced their target price on General Dynamics from $229.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday. Bank of America set a $275.00 target price on General Dynamics and gave the stock a “buy” rating in a report on Tuesday, July 31st. Robert W. Baird reduced their target price on General Dynamics from $243.00 to $222.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Wells Fargo & Co reduced their target price on General Dynamics from $250.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $231.00.

GD traded down $2.82 on Monday, hitting $167.04. The company had a trading volume of 2,578,406 shares, compared to its average volume of 1,532,237. The firm has a market cap of $50.30 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.35 and a beta of 0.77. General Dynamics Co. has a 12-month low of $164.76 and a 12-month high of $230.00. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $0.13. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $9.41 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. The firm’s revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the business posted $2.52 earnings per share. On average, research analysts forecast that General Dynamics Co. will post 11.3 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 5th will be given a $0.93 dividend. The ex-dividend date is Thursday, October 4th. This represents a $3.72 annualized dividend and a yield of 2.23%. General Dynamics’s dividend payout ratio is currently 37.39%.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

Further Reading: Retained Earnings

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

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