ASB Consultores LLC Sells 449 Shares of General Dynamics Co. (NYSE:GD)

ASB Consultores LLC lessened its stake in General Dynamics Co. (NYSE:GD) by 19.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,802 shares of the aerospace company’s stock after selling 449 shares during the quarter. ASB Consultores LLC’s holdings in General Dynamics were worth $523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. bought a new position in General Dynamics during the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC bought a new position in shares of General Dynamics during the 1st quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of General Dynamics in the first quarter valued at $29,000. New Covenant Trust Company N.A. bought a new stake in General Dynamics in the first quarter worth $29,000. Finally, American Capital Advisory LLC purchased a new stake in General Dynamics during the second quarter valued at $29,000. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the topic of several analyst reports. Wells Fargo & Company upped their price target on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. BTIG Research began coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Robert W. Baird restated an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Stock Performance

GD opened at $304.77 on Friday. The firm has a market capitalization of $83.62 billion, a PE ratio of 24.86, a PEG ratio of 1.64 and a beta of 0.61. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97. The firm’s 50-day moving average price is $294.33 and its 200 day moving average price is $290.74.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.70 EPS. As a group, sell-side analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

About General Dynamics

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.