CIBC Asset Management Inc Sells 1,782 Shares of General Dynamics Co. (NYSE:GD)

CIBC Asset Management Inc cut its holdings in General Dynamics Co. (NYSE:GD - Free Report) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,981 shares of the aerospace company's stock after selling 1,782 shares during the period. CIBC Asset Management Inc's holdings in General Dynamics were worth $14,792,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Modera Wealth Management LLC increased its position in General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company's stock worth $2,356,000 after purchasing an additional 35 shares in the last quarter. Legend Financial Advisors Inc. raised its position in shares of General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company's stock valued at $32,000 after buying an additional 36 shares during the last quarter. Diversified Trust Co lifted its stake in shares of General Dynamics by 2.5% during the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company's stock valued at $425,000 after buying an additional 36 shares during the period. Fulton Bank N.A. grew its stake in General Dynamics by 1.1% in the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company's stock worth $932,000 after acquiring an additional 37 shares during the period. Finally, Copperwynd Financial LLC grew its position in shares of General Dynamics by 3.7% in the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company's stock valued at $274,000 after purchasing an additional 38 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GD has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on General Dynamics from $330.00 to $334.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Robert W. Baird reissued an "outperform" rating and issued a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of General Dynamics in a research report on Monday, July 29th. Barclays upped their target price on General Dynamics from $310.00 to $325.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 30th. Finally, BTIG Research started 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. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $315.06.

General Dynamics Trading Down 1.5 %

General Dynamics stock traded down $4.44 during midday trading on Tuesday, reaching $294.92. The stock had a trading volume of 956,230 shares, compared to its average volume of 1,059,705. The firm's fifty day simple moving average is $290.66 and its two-hundred day simple moving average is $288.39. 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 Co. has a twelve month low of $214.53 and a twelve month high of $302.75. The firm has a market cap of $81.04 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.64 and a beta of 0.60.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts' consensus estimates of $3.30 by ($0.04). The firm 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%. The business's revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.70 EPS. Equities analysts anticipate that General Dynamics Co. will post 14.52 EPS 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. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.93%. General Dynamics's payout ratio is presently 46.33%.

General Dynamics 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.