General Dynamics Co. (NYSE:GD) Shares Sold by Brighton Jones LLC

Brighton Jones LLC trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 7.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,437 shares of the aerospace company’s stock after selling 193 shares during the quarter. Brighton Jones LLC’s holdings in General Dynamics were worth $707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Richardson Financial Services Inc. acquired a new stake in General Dynamics in the fourth quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in General Dynamics in the 1st quarter valued at about $29,000. New Covenant Trust Company N.A. acquired a new position in General Dynamics during the 1st quarter valued at about $29,000. Finally, American Capital Advisory LLC bought a new position in General Dynamics in the 2nd quarter worth about $29,000. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GD. Wells Fargo & Company lifted their price target on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Barclays upped their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Robert W. Baird restated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $315.06.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.52% of the stock is owned by insiders.

General Dynamics Price Performance

Shares of NYSE:GD opened at $306.87 on Friday. The company has a market capitalization of $84.19 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.64 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 fifty day moving average of $294.79 and a 200-day moving average of $291.09. General Dynamics Co. has a one year low of $214.53 and a one year high of $309.97.

General Dynamics (NYSE:GD) last announced its 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 for the quarter, compared to analysts’ expectations 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 for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.70 earnings per share. 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 company also recently declared 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. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.85%. General Dynamics’s dividend payout ratio is currently 46.33%.

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.