Brandes Investment Partners LP Cuts Holdings in General Dynamics Co. (NYSE:GD)

Brandes Investment Partners LP lessened its stake in General Dynamics Co. (NYSE:GD) by 7.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 50,728 shares of the aerospace company’s stock after selling 3,961 shares during the quarter. Brandes Investment Partners LP’s holdings in General Dynamics were worth $14,733,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Richardson Financial Services Inc. acquired a new position in General Dynamics in the fourth quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the 1st quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics during the 1st quarter worth approximately $29,000. New Covenant Trust Company N.A. acquired a new position in General Dynamics during the first quarter worth approximately $29,000. Finally, American Capital Advisory LLC acquired a new stake in shares of General Dynamics in the second quarter valued at approximately $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of NYSE GD opened at $300.13 on Monday. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97. The company has a 50-day simple moving average of $296.08 and a 200-day simple moving average of $292.24. The company has a market cap of $82.34 billion, a PE ratio of 24.48, 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 current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) 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 analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. General Dynamics’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.70 earnings per share. On average, equities analysts anticipate 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 of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.89%. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’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 transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GD shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Barclays increased their price target 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. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. BTIG Research began coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $318.41.

About General Dynamics

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.