Rogco LP Reduces Stock Holdings in General Dynamics Co. (NYSE:GD)

Rogco LP lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 16.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,523 shares of the aerospace company’s stock after selling 500 shares during the period. Rogco LP’s holdings in General Dynamics were worth $762,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Grimes & Company Inc. boosted its position in shares of General Dynamics by 5.7% during the third quarter. Grimes & Company Inc. now owns 988 shares of the aerospace company’s stock valued at $299,000 after buying an additional 53 shares during the period. Greystone Financial Group LLC bought a new stake in shares of General Dynamics during the 3rd quarter worth approximately $228,000. CENTRAL TRUST Co boosted its holdings in General Dynamics by 1.3% during the 3rd quarter. CENTRAL TRUST Co now owns 27,011 shares of the aerospace company’s stock valued at $8,163,000 after acquiring an additional 335 shares during the period. X Square Capital LLC grew its position in General Dynamics by 3.4% in the 3rd quarter. X Square Capital LLC now owns 11,087 shares of the aerospace company’s stock valued at $3,351,000 after acquiring an additional 367 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its stake in General Dynamics by 21.4% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 1,321 shares of the aerospace company’s stock worth $399,000 after purchasing an additional 233 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GD shares. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Robert W. Baird restated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Citigroup lifted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada increased their price objective on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Barclays lifted their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $321.06.

General Dynamics Stock Down 0.4 %

Shares of GD stock traded down $1.15 during mid-day trading on Thursday, hitting $303.25. 249,803 shares of the stock traded hands, compared to its average volume of 1,088,964. General Dynamics Co. has a 52-week low of $236.58 and a 52-week high of $313.11. The stock has a market cap of $83.20 billion, a P/E ratio of 24.77, a P/E/G ratio of 1.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The stock’s fifty day moving average is $300.17 and its two-hundred day moving average is $294.55.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.04 EPS. Equities analysts predict that General Dynamics Co. will post 14.38 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 given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.87%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is currently owned by company insiders.

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.