General Dynamics Co. (NYSE:GD) Shares Sold by LS Investment Advisors LLC

LS Investment Advisors LLC cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,178 shares of the aerospace company’s stock after selling 40 shares during the period. LS Investment Advisors LLC’s holdings in General Dynamics were worth $3,243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Legend Financial Advisors Inc. raised its holdings in General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 36 shares in the last quarter. Diversified Trust Co grew its position in shares of General Dynamics by 2.5% during the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after acquiring an additional 36 shares during the last quarter. Fulton Bank N.A. grew its position in General Dynamics by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after purchasing an additional 37 shares during the last quarter. Copperwynd Financial LLC increased its stake in General Dynamics by 3.7% in the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 38 shares during the period. Finally, Woodward Diversified Capital LLC raised its holdings in shares of General Dynamics by 2.3% in the fourth quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock valued at $448,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on GD shares. Sanford C. Bernstein boosted their price target on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Argus lifted their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company raised their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Price Performance

Shares of General Dynamics stock traded down $0.94 on Tuesday, hitting $290.06. The company’s stock had a trading volume of 1,005,327 shares, compared to its average volume of 1,053,979. The company has a market capitalization of $79.58 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. General Dynamics Co. has a 52-week low of $214.53 and a 52-week high of $302.75. The firm has a fifty day moving average price of $290.84 and a 200-day moving average price of $287.42. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings results 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). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period last year, the company earned $2.70 EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts expect that General Dynamics Co. will post 14.5 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

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.