USA Financial Formulas Has $807,000 Stake in General Dynamics Co. (NYSE:GD)

USA Financial Formulas lowered its holdings in General Dynamics Co. (NYSE:GD) by 28.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,669 shares of the aerospace company’s stock after selling 1,064 shares during the quarter. USA Financial Formulas’ holdings in General Dynamics were worth $807,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in GD. Modera Wealth Management LLC boosted its position in shares of General Dynamics by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after purchasing an additional 35 shares during the last quarter. Rathbones Group PLC increased its stake in shares of General Dynamics by 1.8% in the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after acquiring an additional 35 shares during the last quarter. Legend Financial Advisors Inc. raised its position in shares of General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 36 shares during the period. Diversified Trust Co boosted its stake in General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after acquiring an additional 36 shares during the last quarter. Finally, Fulton Bank N.A. grew its holdings in General Dynamics by 1.1% during the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after purchasing an additional 37 shares during the period. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

GD has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. BTIG Research began coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $317.06.

General Dynamics Stock Performance

Shares of NYSE GD opened at $298.69 on Thursday. General Dynamics Co. has a 52 week low of $232.29 and a 52 week high of $309.97. The stock has a market capitalization of $81.95 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. The stock has a 50 day moving average price of $297.51 and a 200 day moving average price of $293.36.

General Dynamics (NYSE:GD) last issued 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 firm had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.70 earnings per share. Analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm 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. This represents a $5.68 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is currently 46.33%.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.52% of the company’s stock.

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.