GUNN & Co INVESTMENT MANAGEMENT INC. Sells 111,567 Shares of General Dynamics Co. (NYSE:GD)

GUNN & Co INVESTMENT MANAGEMENT INC. reduced its holdings in shares of General Dynamics Co. (NYSE:GD) 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 %

NYSE:GD opened at $304.40 on Thursday. 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 firm has a market cap of $83.52 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The stock has a fifty day moving average price of $300.17 and a 200 day moving average price of $294.55. General Dynamics Co. has a 12-month low of $232.29 and a 12-month high of $313.11.

General Dynamics (NYSE:GD) 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.

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.