Capital Investment Advisors LLC Reduces Stock Position in General Dynamics Co. (NYSE:GD)

Capital Investment Advisors LLC reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,878 shares of the aerospace company’s stock after selling 485 shares during the quarter. Capital Investment Advisors LLC’s holdings in General Dynamics were worth $1,695,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GD. Mcdonald Partners LLC lifted its holdings in General Dynamics by 0.9% during the 1st quarter. Mcdonald Partners LLC now owns 5,075 shares of the aerospace company’s stock worth $1,158,000 after purchasing an additional 45 shares in the last quarter. Mission Wealth Management LP lifted its holdings in General Dynamics by 3.4% during the 1st quarter. Mission Wealth Management LP now owns 1,385 shares of the aerospace company’s stock worth $316,000 after purchasing an additional 46 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its holdings in General Dynamics by 1.9% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 2,474 shares of the aerospace company’s stock worth $565,000 after purchasing an additional 47 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in General Dynamics by 2.7% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,853 shares of the aerospace company’s stock worth $460,000 after purchasing an additional 48 shares in the last quarter. Finally, Good Life Advisors LLC lifted its stake in General Dynamics by 1.3% in the 4th quarter. Good Life Advisors LLC now owns 4,250 shares of the aerospace company’s stock worth $1,055,000 after purchasing an additional 53 shares in the last quarter. 86.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 13,500 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $225.46, for a total value of $3,043,710.00. Following the transaction, the senior vice president now owns 44,157 shares in the company, valued at $9,955,637.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Marguerite Amy Gilliland sold 13,500 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $225.46, for a total transaction of $3,043,710.00. Following the transaction, the senior vice president now directly owns 44,157 shares of the company’s stock, valued at $9,955,637.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Phebe N. Novakovic sold 33,230 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $227.96, for a total transaction of $7,575,110.80. Following the transaction, the chief executive officer now owns 778,092 shares in the company, valued at approximately $177,373,852.32. The disclosure for this sale can be found here. Insiders have sold 53,230 shares of company stock valued at $12,086,716 in the last ninety days. Company insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $224.05 on Monday. The stock has a market cap of $61.17 billion, a PE ratio of 18.39, a PEG ratio of 1.95 and a beta of 0.84. The company’s fifty day moving average is $221.77 and its 200 day moving average is $219.13. General Dynamics Co. has a 52 week low of $202.35 and a 52 week high of $256.86. The company has a quick ratio of 0.90, a current ratio of 1.39 and a debt-to-equity ratio of 0.47.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.11. The company had revenue of $10.15 billion for the quarter, compared to analysts’ expectations of $9.45 billion. General Dynamics had a net margin of 8.24% and a return on equity of 18.01%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.75 EPS. Research analysts anticipate that General Dynamics Co. will post 12.64 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $5.28 dividend on an annualized basis and a yield of 2.36%. General Dynamics’s dividend payout ratio (DPR) is currently 43.35%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com assumed coverage on shares of General Dynamics in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Wells Fargo & Company raised their price target on General Dynamics from $244.00 to $258.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Finally, Morgan Stanley raised their price target on General Dynamics from $248.00 to $250.00 in a report on Thursday, July 27th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $262.38.

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.