Bontempo Ohly Capital Mgmt LLC Reduces Stock Holdings in General Dynamics Co. (NYSE:GD)

Bontempo Ohly Capital Mgmt LLC trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,613 shares of the aerospace company’s stock after selling 89 shares during the quarter. General Dynamics accounts for about 2.3% of Bontempo Ohly Capital Mgmt LLC’s holdings, making the stock its 5th largest position. Bontempo Ohly Capital Mgmt LLC’s holdings in General Dynamics were worth $4,530,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Gladstone Capital Management LLP purchased a new stake in shares of General Dynamics during the 4th quarter valued at $3,869,000. SWP Financial LLC purchased a new position in shares of General Dynamics in the 4th quarter worth about $227,000. Sanibel Captiva Trust Company Inc. bought a new position in General Dynamics during the fourth quarter valued at about $28,107,000. Evercore Wealth Management LLC increased its holdings in General Dynamics by 1.5% during the fourth quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock worth $1,391,000 after buying an additional 78 shares during the last quarter. Finally, TD Asset Management Inc raised its position in General Dynamics by 7.2% in the fourth quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock worth $20,846,000 after acquiring an additional 5,405 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Barclays raised their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company upped their price target on 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 raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Finally, BTIG Research started coverage on shares of General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average price target of $318.41.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.52% of the stock is owned by company insiders.

General Dynamics Price Performance

Shares of NYSE GD opened at $300.13 on Friday. The stock’s 50-day simple moving average is $296.08 and its two-hundred day simple moving average is $292.12. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97. The firm has a market capitalization of $82.34 billion, a P/E ratio of 24.48, a P/E/G ratio of 1.68 and a beta of 0.61. 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 (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the company posted $2.70 earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, equities analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, October 11th. 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.