U S Global Investors Inc. Trims Holdings in General Dynamics Co. (NYSE:GD)

U S Global Investors Inc. reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 21.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 66,997 shares of the aerospace company’s stock after selling 18,834 shares during the period. General Dynamics accounts for 1.9% of U S Global Investors Inc.’s portfolio, making the stock its 17th largest position. U S Global Investors Inc.’s holdings in General Dynamics were worth $20,246,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics during the 1st quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new stake in General Dynamics during the 1st quarter worth approximately $29,000. American Capital Advisory LLC acquired a new stake in General Dynamics in the second quarter valued at approximately $29,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics in the third quarter valued at approximately $30,000. Finally, Legend Financial Advisors Inc. grew its position 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. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Down 0.4 %

GD stock traded down $1.20 during midday trading on Tuesday, reaching $306.88. The company had a trading volume of 31,685 shares, compared to its average volume of 1,085,570. General Dynamics Co. has a 1 year low of $232.29 and a 1 year high of $310.85. 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 $84.20 billion, a P/E ratio of 25.14, a PEG ratio of 1.67 and a beta of 0.61. The company has a 50 day moving average of $299.68 and a two-hundred day moving average of $294.41.

General Dynamics (NYSE:GD) last issued its earnings results 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 firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.70 EPS. On average, equities research analysts expect that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GD shares. BTIG Research started coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.18.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.

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.