GUNN & Co INVESTMENT MANAGEMENT INC. reduced its holdings in shares of General Dynamics Co. (NYSE:GD – Free Report) by 94.0% in the third quarter, HoldingsChannel.com reports. The fund owned 7,095 shares of the aerospace company’s stock after selling 111,567 shares during the quarter. General Dynamics accounts for 1.5% of GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings, making the stock its 26th biggest position. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in General Dynamics were worth $2,144,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the stock. Redmont Wealth Advisors LLC purchased a new position in General Dynamics during the 1st quarter worth $25,000. MFA Wealth Advisors LLC lifted its holdings in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in General Dynamics during the first quarter valued at approximately $29,000. American Capital Advisory LLC bought a new position in shares of General Dynamics in the second quarter worth $29,000. Finally, Lowe Wealth Advisors LLC bought a new stake in shares of General Dynamics during the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 86.14% of the company’s stock.
Insiders Place Their Bets
In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction 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 completion of the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.52% of the stock is currently owned by company insiders.
General Dynamics Trading Down 0.5 %
General Dynamics (NYSE:GD – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 earnings per share. Sell-side analysts anticipate 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 dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.
Analyst Upgrades and Downgrades
GD has been the topic of several recent research reports. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Barclays upped their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $334.00 to $317.00 in a research report on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $320.18.
Get Our Latest Research Report on General Dynamics
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.
See Also
- Five stocks we like better than General Dynamics
- Dividend Capture Strategy: What You Need to Know
- A $1.75 Billion Gamble: Can Lucid Ignite Growth?
- How to Use the MarketBeat Excel Dividend Calculator
- The Rally in Lockheed Martin and RTX Can Continue: Here’s Why
- What Are the U.K. Market Holidays? How to Invest and Trade
- 3 Undervalued Technology Stocks With Big Rebound Potential
Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD – Free Report).
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.