FourThought Financial Partners LLC Reduces Holdings in General Dynamics Corporation (NYSE:GD)

FourThought Financial Partners LLC trimmed its stake in General Dynamics Corporation (NYSE:GD) by 8.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,899 shares of the aerospace company’s stock after selling 172 shares during the period. FourThought Financial Partners LLC’s holdings in General Dynamics were worth $518,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Integrated Investment Consultants LLC lifted its position in shares of General Dynamics by 10.9% in the 1st quarter. Integrated Investment Consultants LLC now owns 845 shares of the aerospace company’s stock worth $230,000 after purchasing an additional 83 shares during the period. TD Asset Management Inc lifted its position in General Dynamics by 19.8% during the 1st quarter. TD Asset Management Inc now owns 186,456 shares of the aerospace company’s stock valued at $50,824,000 after acquiring an additional 30,805 shares during the period. HB Wealth Management LLC lifted its position in General Dynamics by 19.4% during the 1st quarter. HB Wealth Management LLC now owns 38,979 shares of the aerospace company’s stock valued at $10,625,000 after acquiring an additional 6,336 shares during the period. Applied Finance Capital Management LLC purchased a new position in General Dynamics during the 1st quarter valued at about $1,067,000. Finally, Mediolanum International Funds Ltd lifted its position in General Dynamics by 5.0% during the 1st quarter. Mediolanum International Funds Ltd now owns 20,524 shares of the aerospace company’s stock valued at $5,523,000 after acquiring an additional 982 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of GD stock opened at $313.92 on Friday. The company has a 50 day moving average price of $287.67 and a 200-day moving average price of $272.23. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $322.50. The firm has a market capitalization of $84.44 billion, a PE ratio of 21.07, a P/E/G ratio of 2.06 and a beta of 0.46. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

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

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.91%. General Dynamics’s dividend payout ratio is presently 40.27%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Morgan Stanley lowered their price target on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Susquehanna lifted their price target on shares of General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research report on Thursday. Argus set a $295.00 price target on shares of General Dynamics in a research report on Tuesday, May 6th. Finally, Citigroup lifted their price target on shares of General Dynamics from $348.00 to $368.00 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $312.17.

Insider Activity at General Dynamics

In other news, CEO Phebe N. Novakovic sold 7,639 shares of General Dynamics stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the sale, the chief executive officer directly owned 769,607 shares in the company, valued at $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is owned by corporate insiders.

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.