Exchange Traded Concepts LLC Has $200,000 Position in General Dynamics Co. (NYSE:GD)

Exchange Traded Concepts LLC lowered its position in shares of General Dynamics Co. (NYSE:GD) by 72.5% in the third quarter, Holdings Channel reports. The firm owned 663 shares of the aerospace company’s stock after selling 1,750 shares during the period. Exchange Traded Concepts LLC’s holdings in General Dynamics were worth $200,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC boosted its holdings in shares of General Dynamics by 87.6% in the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after buying an additional 6,858 shares during the period. Clearbridge Investments LLC bought a new position in shares of General Dynamics in the first quarter valued at about $493,000. Wealth Enhancement Advisory Services LLC increased its position in General Dynamics by 2.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock worth $41,734,000 after acquiring an additional 3,531 shares during the period. Cetera Investment Advisers increased its position in General Dynamics by 291.4% during the first quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock worth $27,271,000 after acquiring an additional 71,871 shares during the period. Finally, Peak Financial Advisors LLC bought a new position in General Dynamics during the third quarter worth about $3,022,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE GD opened at $308.22 on Tuesday. The company has a fifty day simple moving average of $299.68 and a 200 day simple moving average of $294.41. General Dynamics Co. has a 12-month low of $232.29 and a 12-month high of $310.85. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The company has a market cap of $84.56 billion, a P/E ratio of 25.14, a PEG ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings data 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 firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations 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 was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.70 earnings per share. Sell-side analysts predict that General Dynamics Co. will post 14.38 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 1.84%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is 46.33%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GD. Citigroup raised their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barclays raised their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Susquehanna raised their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Finally, Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $320.18.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated 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 directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.