Schulhoff & Co. Inc. Reduces Position in General Dynamics Corporation $GD

Schulhoff & Co. Inc. cut its position in General Dynamics Corporation (NYSE:GD) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,346 shares of the aerospace company’s stock after selling 273 shares during the period. General Dynamics accounts for 1.5% of Schulhoff & Co. Inc.’s investment portfolio, making the stock its 17th largest holding. Schulhoff & Co. Inc.’s holdings in General Dynamics were worth $3,309,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GD. Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Dynamics in the 1st quarter valued at approximately $27,000. Quarry LP boosted its holdings in shares of General Dynamics by 783.3% in the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock valued at $29,000 after buying an additional 94 shares in the last quarter. Abound Financial LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at $32,000. Nova Wealth Management Inc. acquired a new position in shares of General Dynamics in the 1st quarter valued at $33,000. Finally, Harbor Asset Planning Inc. acquired a new position in shares of General Dynamics in the 2nd quarter valued at $35,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Up 1.0%

GD stock opened at $340.73 on Wednesday. General Dynamics Corporation has a one year low of $239.20 and a one year high of $347.37. The stock has a market capitalization of $91.65 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 2.07 and a beta of 0.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The company has a fifty day moving average of $327.84 and a 200-day moving average of $300.15.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company had revenue of $13.04 billion during the quarter, compared to analysts’ expectations of $12.13 billion. During the same quarter last year, the business earned $3.26 EPS. The business’s revenue was up 8.9% on a year-over-year basis. As a group, analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

Insider Buying and Selling

In other news, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the completion of the sale, the executive vice president owned 45,192 shares in the company, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William A. Moss sold 17,700 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the sale, the vice president owned 16,627 shares of the company’s stock, valued at $5,260,782.80. This trade represents a 51.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,020 shares of company stock worth $86,414,503. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GD has been the subject of several research analyst reports. TD Cowen upped their target price on shares of General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Barclays upped their target price on shares of General Dynamics from $285.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Morgan Stanley upped their target price on shares of General Dynamics from $328.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. The Goldman Sachs Group upped their target price on shares of General Dynamics from $280.00 to $293.00 and gave the company a “sell” rating in a report on Friday, October 10th. Finally, Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the stock a “market perform” rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $327.44.

General Dynamics 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.