World Asset Management Inc Sells 1,564 Shares of General Dynamics Co. (NYSE:GD)

World Asset Management Inc lowered its position in General Dynamics Co. (NYSE:GD) by 8.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,987 shares of the aerospace company’s stock after selling 1,564 shares during the period. World Asset Management Inc’s holdings in General Dynamics were worth $3,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. United Bank lifted its holdings in shares of General Dynamics by 3.9% during the 1st quarter. United Bank now owns 4,740 shares of the aerospace company’s stock valued at $802,000 after buying an additional 180 shares during the period. Bath Savings Trust Co lifted its holdings in shares of General Dynamics by 12.2% during the 2nd quarter. Bath Savings Trust Co now owns 1,655 shares of the aerospace company’s stock valued at $301,000 after buying an additional 180 shares during the period. Woodstock Corp lifted its holdings in shares of General Dynamics by 1.1% during the 2nd quarter. Woodstock Corp now owns 6,625 shares of the aerospace company’s stock valued at $1,205,000 after buying an additional 75 shares during the period. Rockland Trust Co. lifted its holdings in shares of General Dynamics by 6.9% during the 2nd quarter. Rockland Trust Co. now owns 1,649 shares of the aerospace company’s stock valued at $300,000 after buying an additional 107 shares during the period. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of General Dynamics by 14.6% during the 2nd quarter. Foundations Investment Advisors LLC now owns 1,664 shares of the aerospace company’s stock valued at $304,000 after buying an additional 212 shares during the period. 86.27% of the stock is owned by institutional investors and hedge funds.

GD has been the topic of several research analyst reports. Barclays set a $215.00 price target on General Dynamics and gave the company a “buy” rating in a report on Tuesday, October 8th. Cowen set a $202.00 price target on General Dynamics and gave the company a “buy” rating in a report on Friday, August 30th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price target on the stock in a report on Monday, September 2nd. Morgan Stanley lowered their price target on General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a report on Thursday, October 10th. Finally, Robert W. Baird increased their price target on General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $193.58.

Shares of General Dynamics stock traded down $3.30 on Wednesday, hitting $176.58. 64,351 shares of the company traded hands, compared to its average volume of 1,089,352. The stock’s 50 day moving average price is $183.45 and its 200-day moving average price is $178.96. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.70. General Dynamics Co. has a 52 week low of $143.87 and a 52 week high of $193.76. The company has a market cap of $50.68 billion, a PE ratio of 15.46, a PEG ratio of 1.69 and a beta of 1.20.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.68 by $0.09. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.36 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. As a group, research analysts anticipate that General Dynamics Co. will post 11.88 EPS for the current fiscal year.

The firm 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 dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, October 10th. General Dynamics’s payout ratio is 35.73%.

In related news, Director William A. Osborn sold 1,500 shares of General Dynamics stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $182.56, for a total transaction of $273,840.00. Following the transaction, the director now directly owns 37,585 shares of the company’s stock, valued at $6,861,517.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Gary L. Whited sold 14,029 shares of General Dynamics stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the transaction, the vice president now directly owns 37,542 shares in the company, valued at $7,072,161.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,459 shares of company stock worth $9,079,802. 7.10% of the stock is currently owned by corporate insiders.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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