FourThought Financial LLC Sells 330 Shares of General Dynamics Co. (NYSE:GD)

FourThought Financial LLC reduced its position in General Dynamics Co. (NYSE:GD – Get Rating) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,425 shares of the aerospace company’s stock after selling 330 shares during the quarter. FourThought Financial LLC’s holdings in General Dynamics were worth $515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greenleaf Trust grew its stake in General Dynamics by 4.1% in the third quarter. Greenleaf Trust now owns 4,913 shares of the aerospace company’s stock valued at $1,042,000 after purchasing an additional 193 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in General Dynamics by 31.5% in the second quarter. Goldman Sachs Group Inc. now owns 1,411,406 shares of the aerospace company’s stock valued at $312,273,000 after purchasing an additional 337,999 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of General Dynamics by 11.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,896 shares of the aerospace company’s stock worth $11,859,000 after acquiring an additional 5,675 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in shares of General Dynamics by 8.1% during the second quarter. Royal London Asset Management Ltd. now owns 103,739 shares of the aerospace company’s stock worth $22,959,000 after acquiring an additional 7,795 shares during the last quarter. Finally, AMG National Trust Bank grew its stake in shares of General Dynamics by 81.3% during the third quarter. AMG National Trust Bank now owns 4,370 shares of the aerospace company’s stock worth $927,000 after acquiring an additional 1,960 shares during the last quarter. Hedge funds and other institutional investors own 84.83% of the company’s stock.

General Dynamics Trading Up 1.5 %

Shares of NYSE:GD opened at $220.05 on Friday. General Dynamics Co. has a 12-month low of $207.42 and a 12-month high of $256.86. The company has a market capitalization of $60.39 billion, a PE ratio of 18.04, a PEG ratio of 2.00 and a beta of 0.84. The business has a 50 day moving average of $232.14 and a two-hundred day moving average of $236.91. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 0.50.

General Dynamics (NYSE:GD – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The aerospace company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.53 by $0.05. General Dynamics had a return on equity of 18.93% and a net margin of 8.60%. The company had revenue of $10.85 billion during the quarter, compared to the consensus estimate of $10.66 billion. During the same period in the previous year, the company posted $3.39 earnings per share. General Dynamics’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts forecast that General Dynamics Co. will post 12.74 EPS for the current year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Friday, April 14th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Thursday, April 13th. This is an increase from General Dynamics’s previous quarterly dividend of $1.26. This represents a $5.28 dividend on an annualized basis and a yield of 2.40%. General Dynamics’s payout ratio is presently 41.31%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GD. Citigroup dropped their price target on General Dynamics from $298.00 to $283.00 and set a “buy” rating on the stock in a research note on Thursday, January 26th. Cowen boosted their price target on General Dynamics from $260.00 to $285.00 in a research note on Tuesday, January 3rd. StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Monday. JPMorgan Chase & Co. dropped their price target on General Dynamics from $260.00 to $245.00 and set an “overweight” rating on the stock in a research note on Friday, January 27th. Finally, Morgan Stanley upped their target price on General Dynamics from $243.00 to $248.00 in a research report on Thursday, January 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.15.

Insider Buying and Selling at General Dynamics

In other news, VP Mark Lagrand Burns sold 27,600 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $226.93, for a total transaction of $6,263,268.00. Following the completion of the transaction, the vice president now directly owns 56,909 shares of the company’s stock, valued at approximately $12,914,359.37. The sale was disclosed in a filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by corporate insiders.

About General Dynamics

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General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver state-of-the-art solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets.