Raymond James Trust N.A. Reduces Stock Position in General Dynamics Co. (NYSE:GD)

Raymond James Trust N.A. lowered its stake in General Dynamics Co. (NYSE:GDGet Rating) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,674 shares of the aerospace company’s stock after selling 719 shares during the quarter. Raymond James Trust N.A.’s holdings in General Dynamics were worth $3,910,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GD. Banque Cantonale Vaudoise bought a new stake in General Dynamics in the 1st quarter valued at $75,000. Vanguard Group Inc. increased its holdings in General Dynamics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 20,326,396 shares of the aerospace company’s stock valued at $4,902,319,000 after acquiring an additional 140,760 shares during the last quarter. Allstate Corp increased its holdings in General Dynamics by 566.9% in the 4th quarter. Allstate Corp now owns 20,241 shares of the aerospace company’s stock valued at $4,220,000 after acquiring an additional 17,206 shares during the last quarter. Minot Wealth Management LLC increased its holdings in shares of General Dynamics by 197.7% in the 2nd quarter. Minot Wealth Management LLC now owns 10,287 shares of the aerospace company’s stock worth $2,276,000 after buying an additional 6,832 shares during the last quarter. Finally, AIA Group Ltd increased its holdings in shares of General Dynamics by 47.9% in the 1st quarter. AIA Group Ltd now owns 3,494 shares of the aerospace company’s stock worth $843,000 after buying an additional 1,131 shares during the last quarter. Hedge funds and other institutional investors own 86.16% of the company’s stock.

General Dynamics Trading Down 0.0 %

NYSE GD opened at $228.09 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.40 and a debt-to-equity ratio of 0.56. The firm has a market cap of $62.55 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.84 and a beta of 0.86. The company has a 50 day moving average price of $228.38 and a 200 day moving average price of $229.50. General Dynamics Co. has a 52 week low of $188.64 and a 52 week high of $254.99.

General Dynamics (NYSE:GDGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The aerospace company reported $2.75 EPS for the quarter, beating the consensus estimate of $2.72 by $0.03. The business had revenue of $9.19 billion for the quarter, compared to the consensus estimate of $9.42 billion. General Dynamics had a net margin of 8.61% and a return on equity of 19.25%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.61 EPS. As a group, sell-side analysts forecast that General Dynamics Co. will post 12.16 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be issued a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, October 6th. General Dynamics’s payout ratio is 42.64%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GD. Royal Bank of Canada began coverage on shares of General Dynamics in a report on Monday, August 29th. They issued an “outperform” rating and a $275.00 target price on the stock. Seaport Res Ptn reaffirmed a “buy” rating on shares of General Dynamics in a research note on Wednesday, July 27th. Finally, Cowen set a $260.00 price target on shares of General Dynamics in a research note on Tuesday, July 19th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.38.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 71,461 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $227.05, for a total value of $16,225,220.05. Following the completion of the sale, the chief executive officer now directly owns 781,152 shares in the company, valued at $177,360,561.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company’s stock.

General Dynamics Company Profile

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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 designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.

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

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