Klingenstein Fields & Co. LP Lowers Position in General Dynamics Co. (NYSE:GD)

Klingenstein Fields & Co. LP trimmed its stake in General Dynamics Co. (NYSE:GD) by 11.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 842 shares of the aerospace company’s stock after selling 112 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in General Dynamics were worth $254,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GD. Daiwa Securities Group Inc. lifted its position in General Dynamics by 9.7% during the first quarter. Daiwa Securities Group Inc. now owns 22,733 shares of the aerospace company’s stock valued at $6,422,000 after buying an additional 2,002 shares in the last quarter. Mutual Advisors LLC lifted its position in General Dynamics by 19.4% during the first quarter. Mutual Advisors LLC now owns 8,908 shares of the aerospace company’s stock valued at $2,516,000 after buying an additional 1,447 shares in the last quarter. Whittier Trust Co. lifted its position in General Dynamics by 2.0% during the first quarter. Whittier Trust Co. now owns 10,763 shares of the aerospace company’s stock valued at $3,040,000 after buying an additional 210 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in General Dynamics by 42.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 809 shares of the aerospace company’s stock valued at $229,000 after buying an additional 240 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in General Dynamics during the first quarter valued at approximately $410,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Up 0.5 %

GD stock opened at $294.40 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a 1-year low of $238.31 and a 1-year high of $313.11. The firm has a fifty day moving average price of $300.83 and a two-hundred day moving average price of $295.18. The firm has a market cap of $80.95 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.75 and a beta of 0.61.

General Dynamics (NYSE:GD) last released 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 firm had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.04 EPS. Research analysts predict that General Dynamics Co. will post 13.97 EPS for the current year.

General Dynamics Dividend Announcement

The business 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 $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is currently 43.26%.

Analyst Ratings Changes

A number of research analysts have weighed in on GD shares. Barclays lifted their price target on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Citigroup boosted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday. Royal Bank of Canada boosted their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley raised shares of 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 research report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $323.69.

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.