General Dynamics Co. (NYSE:GD) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its position in shares of General Dynamics Co. (NYSE:GD - Free Report) by 13.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,036 shares of the aerospace company's stock after selling 2,240 shares during the period. Valley Wealth Managers Inc.'s holdings in General Dynamics were worth $4,363,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Gladstone Capital Management LLP purchased a new position in shares of General Dynamics in the 4th quarter valued at $3,869,000. SWP Financial LLC acquired a new stake in shares of General Dynamics in the 4th quarter valued at about $227,000. Sanibel Captiva Trust Company Inc. purchased a new position in General Dynamics during the 4th quarter worth approximately $28,107,000. Evercore Wealth Management LLC increased its position in General Dynamics by 1.5% during the fourth quarter. Evercore Wealth Management LLC now owns 5,355 shares of the aerospace company's stock worth $1,391,000 after buying an additional 78 shares during the period. Finally, TD Asset Management Inc lifted its stake in General Dynamics by 7.2% in the fourth quarter. TD Asset Management Inc now owns 80,280 shares of the aerospace company's stock valued at $20,846,000 after buying an additional 5,405 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Morgan Stanley raised shares of General Dynamics from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Wells Fargo & Company raised their price target on General Dynamics from $330.00 to $334.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of General Dynamics in a research note on Monday, July 29th. Finally, Robert W. Baird reiterated an "outperform" rating and issued a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, General Dynamics currently has a consensus rating of "Moderate Buy" and an average price target of $315.06.

General Dynamics Price Performance

Shares of GD stock traded up $4.13 during mid-day trading on Friday, reaching $304.80. The stock had a trading volume of 796,335 shares, compared to its average volume of 1,065,586. The company has a market cap of $83.63 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $306.51. The business has a 50-day simple moving average of $292.01 and a 200 day simple moving average of $289.65.

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 the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion for the quarter, compared to analysts' expectations of $11.46 billion. During the same quarter last year, the business posted $2.70 earnings per share. The business's revenue was up 18.0% compared to the same quarter last year. On average, sell-side analysts anticipate that General Dynamics Co. will post 14.52 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. General Dynamics's dividend payout ratio is currently 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.