Studio Investment Management LLC Decreases Position in General Dynamics Corporation $GD

Studio Investment Management LLC trimmed its position in shares of General Dynamics Corporation (NYSE:GD) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,912 shares of the aerospace company’s stock after selling 649 shares during the quarter. General Dynamics makes up 1.4% of Studio Investment Management LLC’s portfolio, making the stock its 14th biggest holding. Studio Investment Management LLC’s holdings in General Dynamics were worth $6,974,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GD. Nuveen LLC purchased a new stake in shares of General Dynamics in the first quarter valued at $272,464,000. Ameriprise Financial Inc. lifted its position in General Dynamics by 34.8% during the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock worth $749,252,000 after buying an additional 709,782 shares during the period. Deutsche Bank AG lifted its position in General Dynamics by 120.9% during the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock worth $343,866,000 after buying an additional 690,349 shares during the period. JPMorgan Chase & Co. lifted its position in General Dynamics by 4.9% during the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after buying an additional 256,687 shares during the period. Finally, Aurora Private Wealth Inc. lifted its position in General Dynamics by 25,390.6% during the first quarter. Aurora Private Wealth Inc. now owns 203,670 shares of the aerospace company’s stock worth $55,516,000 after buying an additional 202,871 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $321.18, for a total value of $2,617,617.00. Following the completion of the sale, the vice president owned 22,818 shares in the company, valued at approximately $7,328,685.24. This trade represents a 26.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Malcolm sold 3,220 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $329.45, for a total value of $1,060,829.00. Following the completion of the sale, the director owned 10,186 shares of the company’s stock, valued at approximately $3,355,777.70. This trade represents a 24.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,020 shares of company stock valued at $86,414,503. Company insiders own 1.50% of the company’s stock.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $340.73 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $347.37. The firm has a market capitalization of $91.65 billion, a PE ratio of 22.87, a P/E/G ratio of 2.07 and a beta of 0.47. The business has a 50-day moving average of $327.84 and a two-hundred day moving average of $300.15.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The business had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. During the same quarter last year, the firm earned $3.26 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GD shares. The Goldman Sachs Group increased their target price on General Dynamics from $280.00 to $293.00 and gave the stock a “sell” rating in a research report on Friday, October 10th. Cowen reiterated a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. Morgan Stanley increased their target price on General Dynamics from $328.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. TD Cowen increased their target price on General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Finally, Susquehanna upped their price target on General Dynamics from $315.00 to $365.00 and gave the stock a “positive” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics presently has an average rating of “Hold” and a consensus price target of $327.44.

General Dynamics Company 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.