Marshall Wace LLP Sells 28,164 Shares of General Dynamics Co. (NYSE:GD)

Marshall Wace LLP lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 48.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,934 shares of the aerospace company’s stock after selling 28,164 shares during the quarter. Marshall Wace LLP’s holdings in General Dynamics were worth $8,685,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gladstone Capital Management LLP bought a new stake in shares of General Dynamics during the 4th quarter valued at about $3,869,000. SWP Financial LLC purchased a new position in shares of General Dynamics during the 4th quarter worth approximately $227,000. Sanibel Captiva Trust Company Inc. bought a new position in shares of General Dynamics in the 4th quarter worth approximately $28,107,000. Evercore Wealth Management LLC lifted its stake in shares of General Dynamics by 1.5% in the 4th quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company’s stock valued at $1,391,000 after purchasing an additional 78 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of General Dynamics by 7.2% during the fourth quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company’s stock valued at $20,846,000 after purchasing an additional 5,405 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, 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 accessible through this link. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Down 0.1 %

GD opened at $300.13 on Monday. The stock has a market capitalization of $82.34 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 1.68 and a beta of 0.61. The firm has a 50 day moving average price of $296.08 and a 200-day moving average price of $292.24. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97. 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 released its quarterly earnings results 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 net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the previous year, the company earned $2.70 earnings per share. General Dynamics’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities research analysts forecast that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.89%. General Dynamics’s dividend payout ratio is currently 46.33%.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of research reports. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Barclays boosted their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $318.41.

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.