Sunbelt Securities Inc. Sells 63 Shares of General Dynamics Co. (NYSE:GD)

Sunbelt Securities Inc. reduced its position in General Dynamics Co. (NYSE:GD) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,284 shares of the aerospace company’s stock after selling 63 shares during the quarter. Sunbelt Securities Inc.’s holdings in General Dynamics were worth $663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Modera Wealth Management LLC increased its stake in General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares during the last quarter. Rathbones Group PLC increased its stake in shares of General Dynamics by 1.8% in the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after purchasing an additional 35 shares during the last quarter. Legend Financial Advisors Inc. raised its holdings in shares of General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after buying an additional 36 shares in the last quarter. Diversified Trust Co lifted its position in shares of General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after buying an additional 36 shares during the last quarter. Finally, Fulton Bank N.A. boosted its stake in General Dynamics by 1.1% in the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after buying an additional 37 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the business’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 owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on GD shares. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Barclays upped their price target 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Finally, Wells Fargo & Company downgraded General Dynamics from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $334.00 to $317.00 in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $317.41.

General Dynamics Stock Up 1.0 %

General Dynamics stock opened at $305.32 on Wednesday. The firm has a 50 day moving average price of $296.51 and a two-hundred day moving average price of $292.64. 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 52-week low of $214.53 and a 52-week high of $309.97. The firm has a market cap of $83.77 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.68 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm earned $2.70 EPS. General Dynamics’s quarterly revenue was up 18.0% on a year-over-year basis. Equities analysts predict that General Dynamics Co. will post 14.52 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.86%. General Dynamics’s dividend payout ratio is currently 46.33%.

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.