FDx Advisors Inc. Trims Holdings in General Dynamics Co. (NYSE:GD)

FDx Advisors Inc. reduced its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 73.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 754 shares of the aerospace company's stock after selling 2,076 shares during the quarter. FDx Advisors Inc.'s holdings in General Dynamics were worth $219,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the company. Eudaimonia Partners LLC bought a new position in General Dynamics in the fourth quarter worth $240,000. Principal Securities Inc. acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $1,056,000. Gladstone Capital Management LLP bought a new position in General Dynamics in the 4th quarter valued at $3,869,000. SWP Financial LLC bought a new stake in shares of General Dynamics during the fourth quarter worth $227,000. Finally, Sanibel Captiva Trust Company Inc. acquired a new stake in General Dynamics in the fourth quarter worth about $28,107,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on GD. Sanford C. Bernstein lifted their target price on General Dynamics from $290.00 to $302.00 and gave the stock a "market perform" rating in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of General Dynamics in a research report on Monday, July 29th. Barclays raised their price objective on General Dynamics from $310.00 to $325.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Morgan Stanley raised General Dynamics from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Wells Fargo & Company lifted their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an "overweight" rating in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of "Moderate Buy" and an average price target of $315.06.

General Dynamics Stock Performance

NYSE:GD traded down $4.33 on Friday, reaching $292.96. 1,362,145 shares of the company's stock were exchanged, compared to its average volume of 1,062,699. The stock has a fifty day simple moving average of $290.74 and a 200-day simple moving average of $288.67. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $302.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The firm has a market cap of $80.38 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts' consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion for 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 firm's quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.70 EPS. As a group, sell-side analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Dividend Announcement

The business 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 $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.94%. General Dynamics's dividend payout ratio is presently 46.33%.

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.