Massmutual Trust Co. FSB ADV Sells 427 Shares of General Dynamics Co. (NYSE:GD)

Massmutual Trust Co. FSB ADV cut its holdings in General Dynamics Co. (NYSE:GD) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,529 shares of the aerospace company’s stock after selling 427 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in General Dynamics were worth $4,391,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its stake in shares of General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after purchasing an additional 293,316 shares during the period. Price T Rowe Associates Inc. MD boosted its position in General Dynamics by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after buying an additional 115,063 shares during the period. Northern Trust Corp boosted its position in General Dynamics by 1.1% in the 4th quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock valued at $592,764,000 after buying an additional 24,395 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of General Dynamics by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after purchasing an additional 47,915 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of General Dynamics by 1.4% in the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after purchasing an additional 23,262 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Price Performance

Shares of NYSE GD opened at $299.61 on Friday. The firm has a 50-day simple moving average of $297.07 and a 200-day simple moving average of $292.77. The stock has a market capitalization of $82.20 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth 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 Co. has a 52 week low of $214.53 and a 52 week high of $309.97.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.70 earnings per share. On average, equities analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

Analysts Set New Price Targets

GD has been the subject of several recent analyst reports. 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. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Wells Fargo & Company lowered shares of General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $334.00 to $317.00 in a research note on Tuesday. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $317.06.

Insider Buying and Selling

In other General Dynamics 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 transaction of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by insiders.

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.