Larson Financial Group LLC Sells 150 Shares of General Dynamics Co. (NYSE:GD)

Larson Financial Group LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 17.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 733 shares of the aerospace company’s stock after selling 150 shares during the quarter. Larson Financial Group LLC’s holdings in General Dynamics were worth $213,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Gilbert & Cook Inc. raised its holdings in General Dynamics by 5.1% during the fourth quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company’s stock valued at $652,000 after acquiring an additional 122 shares during the period. Private Advisor Group LLC raised its holdings in General Dynamics by 5.6% during the fourth quarter. Private Advisor Group LLC now owns 17,723 shares of the aerospace company’s stock valued at $4,602,000 after acquiring an additional 939 shares during the period. Principal Securities Inc. bought a new stake in General Dynamics during the fourth quarter valued at about $1,056,000. Principal Street Partners LLC bought a new stake in General Dynamics during the fourth quarter valued at about $207,000. Finally, Northwest Financial Advisors bought a new stake in General Dynamics during the fourth quarter valued at about $89,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Down 1.5 %

Shares of NYSE GD opened at $292.96 on Friday. 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 company has a market cap of $80.38 billion, a P/E ratio of 23.90, a PEG ratio of 1.64 and a beta of 0.61. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $302.75. The firm has a 50-day simple moving average of $290.80 and a two-hundred day simple moving average of $288.84.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The firm had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.70 EPS. Research analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Analyst Ratings Changes

A number of research firms have commented on GD. Wells Fargo & Company raised their price target on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Robert W. Baird reissued an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. BTIG Research initiated coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $315.06.

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.