General Dynamics Co. (NYSE:GD) Shares Sold by Professional Advisory Services Inc.

Professional Advisory Services Inc. reduced its stake in General Dynamics Co. (NYSE:GD) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,998 shares of the aerospace company’s stock after selling 1,903 shares during the period. General Dynamics accounts for approximately 2.9% of Professional Advisory Services Inc.’s holdings, making the stock its 14th biggest position. Professional Advisory Services Inc.’s holdings in General Dynamics were worth $22,362,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics in the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of General Dynamics in the 1st quarter worth approximately $29,000. New Covenant Trust Company N.A. bought a new stake in shares of General Dynamics in the 1st quarter worth approximately $29,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics in the 2nd quarter worth approximately $29,000. Finally, Lowe Wealth Advisors LLC bought a new stake in shares of General Dynamics in the 3rd quarter worth approximately $30,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

GD stock opened at $307.79 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $84.45 billion, a price-to-earnings ratio of 25.15, 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 $309.97. The firm has a 50 day moving average of $299.03 and a two-hundred day moving average of $294.14.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion during 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 business’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.70 earnings per share. As a group, equities analysts anticipate that General Dynamics Co. will post 14.38 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barclays boosted 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. Deutsche Bank Aktiengesellschaft cut their price target 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. Citigroup boosted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Susquehanna boosted their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $320.18.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction 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 approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is owned by insiders.

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.