Westbourne Investment Advisors Inc. trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 23.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,090 shares of the aerospace company’s stock after selling 650 shares during the quarter. Westbourne Investment Advisors Inc.’s holdings in General Dynamics were worth $380,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Archford Capital Strategies LLC lifted its holdings in General Dynamics by 3.4% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,696 shares of the aerospace company’s stock worth $308,000 after buying an additional 56 shares during the last quarter. Capital Investment Advisory Services LLC lifted its holdings in shares of General Dynamics by 10.2% in the 1st quarter. Capital Investment Advisory Services LLC now owns 657 shares of the aerospace company’s stock valued at $111,000 after purchasing an additional 61 shares during the last quarter. Weatherstone Capital Management lifted its holdings in shares of General Dynamics by 2.9% in the 1st quarter. Weatherstone Capital Management now owns 2,224 shares of the aerospace company’s stock valued at $376,000 after purchasing an additional 63 shares during the last quarter. National Asset Management Inc. lifted its holdings in shares of General Dynamics by 2.1% in the 1st quarter. National Asset Management Inc. now owns 3,029 shares of the aerospace company’s stock valued at $513,000 after purchasing an additional 63 shares during the last quarter. Finally, Carroll Financial Associates Inc. lifted its holdings in shares of General Dynamics by 4.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,494 shares of the aerospace company’s stock valued at $271,000 after purchasing an additional 66 shares during the last quarter. 86.73% of the stock is owned by hedge funds and other institutional investors.
GD traded down $0.56 on Friday, hitting $182.87. 49,868 shares of the company traded hands, compared to its average volume of 1,015,344. The stock’s 50 day moving average is $181.62. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.09 and a quick ratio of 0.73. The firm has a market cap of $52.98 billion, a PE ratio of 15.90, a PEG ratio of 1.83 and a beta of 1.20. General Dynamics Co. has a 12-month low of $143.87 and a 12-month high of $207.72.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, July 3rd. General Dynamics’s dividend payout ratio is presently 35.73%.
Several research firms have recently weighed in on GD. Goldman Sachs Group raised General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 target price for the company in a report on Sunday, May 19th. UBS Group boosted their target price on General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. raised General Dynamics from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. ValuEngine raised General Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Finally, Robert W. Baird boosted their target price on General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. General Dynamics currently has a consensus rating of “Hold” and an average target price of $191.35.
In other General Dynamics news, VP Gary L. Whited sold 14,029 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the completion of the sale, the vice president now directly owns 37,542 shares of the company’s stock, valued at approximately $7,072,161.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.10% of the stock is owned by corporate insiders.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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