Longview Asset Management LLC Has $8.15 Billion Stock Holdings in General Dynamics Co. (NYSE:GD)

Longview Asset Management LLC cut its stake in General Dynamics Co. (NYSE:GD) by 0.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,097,732 shares of the aerospace company’s stock after selling 509 shares during the quarter. General Dynamics comprises about 96.5% of Longview Asset Management LLC’s holdings, making the stock its largest position. Longview Asset Management LLC owned 0.10% of General Dynamics worth $8,152,276,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the fourth quarter valued at about $25,000. Redmont Wealth Advisors LLC purchased a new position in General Dynamics during the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics during the first quarter valued at approximately $29,000. New Covenant Trust Company N.A. bought a new stake in General Dynamics during the 1st quarter worth approximately $29,000. Finally, American Capital Advisory LLC purchased a new stake in General Dynamics in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

GD has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Robert W. Baird reissued an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Sanford C. Bernstein raised their target price on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $315.06.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Price Performance

Shares of NYSE:GD opened at $304.77 on Friday. The company’s fifty day moving average is $294.33 and its 200 day moving average is $290.74. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $309.97. The stock has a market cap of $83.62 billion, a PE ratio of 24.86, a PEG ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the firm posted $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 declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.86%. General Dynamics’s dividend payout ratio is currently 46.33%.

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.