Brown Lisle Cummings Inc. Reduces Position in General Dynamics Co. (NYSE:GD)

Brown Lisle Cummings Inc. trimmed its holdings in General Dynamics Co. (NYSE:GD) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,631 shares of the aerospace company’s stock after selling 51 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in General Dynamics were worth $795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GD. 1832 Asset Management L.P. grew its holdings in General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after buying an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in General Dynamics by 879.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after purchasing an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after buying an additional 293,316 shares during the period. Hsbc Holdings PLC grew its position in General Dynamics by 24.2% in the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after acquiring an additional 262,164 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in General Dynamics by 174.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock valued at $111,458,000 after buying an additional 244,373 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GD shares. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Barclays increased their price target on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Robert W. Baird restated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.18.

General Dynamics Stock Up 0.1 %

Shares of General Dynamics stock opened at $308.48 on Monday. The company has a market cap of $84.64 billion, a P/E ratio of 25.16, a PEG ratio of 1.67 and a beta of 0.61. The firm has a fifty day moving average of $299.34 and a two-hundred day moving average of $294.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. General Dynamics Co. has a one year low of $232.29 and a one year high of $310.58.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. During the same quarter in the previous year, the business earned $2.70 EPS. General Dynamics’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts forecast that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is presently 46.33%.

Insiders Place Their Bets

In other 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 transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.52% of the stock is currently owned by company insiders.

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.