Essex LLC Sells 84 Shares of General Dynamics Co. (NYSE:GD)

Essex LLC lessened its holdings in General Dynamics Co. (NYSE:GD) by 0.6% during the 3rd quarter, Holdings Channel reports. The firm owned 13,390 shares of the aerospace company’s stock after selling 84 shares during the period. General Dynamics makes up approximately 0.8% of Essex LLC’s portfolio, making the stock its 29th biggest position. Essex LLC’s holdings in General Dynamics were worth $4,046,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Kingsview Wealth Management LLC raised its position in shares of General Dynamics by 87.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after acquiring an additional 6,858 shares during the last quarter. Clearbridge Investments LLC bought a new stake in General Dynamics in the first quarter valued at about $493,000. Wealth Enhancement Advisory Services LLC increased its holdings in General Dynamics by 2.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock worth $41,734,000 after purchasing an additional 3,531 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of General Dynamics by 291.4% in the 1st quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock valued at $27,271,000 after purchasing an additional 71,871 shares during the period. Finally, Peak Financial Advisors LLC bought a new stake in shares of General Dynamics in the third quarter valued at about $3,022,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

Shares of NYSE GD opened at $308.48 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $84.64 billion, a P/E ratio of 25.16, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 12 month low of $232.29 and a 12 month high of $310.58. The stock has a 50 day moving average of $299.34 and a 200-day moving average of $294.29.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the firm earned $2.70 earnings per share. As a group, equities research analysts predict that General Dynamics Co. will post 14.38 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.84%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Barclays increased their target price on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Susquehanna lifted their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday. Finally, BTIG Research began coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $320.18.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.