Virtu Financial LLC Has $556,000 Holdings in General Dynamics Co. (NYSE:GD)

Virtu Financial LLC lowered its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 85.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,841 shares of the aerospace company's stock after selling 10,980 shares during the period. Virtu Financial LLC's holdings in General Dynamics were worth $556,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MFA Wealth Advisors LLC lifted its holdings in shares of General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC bought a new stake in General Dynamics in the 3rd quarter worth approximately $26,000. American Capital Advisory LLC bought a new stake in General Dynamics in the 2nd quarter worth approximately $29,000. Lowe Wealth Advisors LLC bought a new stake in General Dynamics in the 3rd quarter worth approximately $30,000. Finally, Atlantic Edge Private Wealth Management LLC grew its position in shares of General Dynamics by 120.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company's stock valued at $32,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Trading Up 0.0 %

Shares of General Dynamics stock traded up $0.07 on Friday, reaching $263.11. The company had a trading volume of 1,673,421 shares, compared to its average volume of 1,137,823. The firm's 50 day moving average price is $291.83 and its two-hundred day moving average price is $293.70. The firm has a market cap of $72.35 billion, a PE ratio of 20.04, a PEG ratio of 1.63 and a beta of 0.59. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion during the quarter, compared to analysts' expectations of $11.65 billion. During the same period last year, the firm posted $3.04 earnings per share. General Dynamics's revenue was up 10.4% on a year-over-year basis. Sell-side analysts predict that General Dynamics Co. will post 13.87 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Friday, January 17th. General Dynamics's payout ratio is 43.26%.

General Dynamics announced that its board has initiated a share repurchase plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on GD shares. Wells Fargo & Company lowered their target price on shares of General Dynamics from $322.00 to $295.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Citigroup upped their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Sanford C. Bernstein lowered their price target on shares of General Dynamics from $343.00 to $331.00 and set a "market perform" rating for the company in a research report on Thursday, October 24th. Barclays increased their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. Finally, TD Cowen upgraded shares of General Dynamics to a "strong-buy" rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $317.38.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company's stock, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher J. Brady sold 5,540 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.52% of the company's stock.

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.