Grassi Investment Management Sells 50 Shares of General Dynamics Co. (NYSE:GD)

Grassi Investment Management decreased its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,325 shares of the aerospace company’s stock after selling 50 shares during the quarter. Grassi Investment Management’s holdings in General Dynamics were worth $3,422,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. MFA Wealth Advisors LLC boosted its position in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 58 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in General Dynamics during the 1st quarter valued at $25,000. American Capital Advisory LLC bought a new stake in General Dynamics during the 2nd quarter valued at $29,000. Lowe Wealth Advisors LLC bought a new stake in General Dynamics during the 3rd quarter valued at $30,000. Finally, New Covenant Trust Company N.A. bought a new stake in General Dynamics during the 1st quarter valued at $29,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE GD opened at $304.40 on Thursday. The stock has a 50-day simple moving average of $300.17 and a two-hundred day simple moving average of $294.55. The firm has a market capitalization of $83.52 billion, a P/E ratio of 24.83, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $232.29 and a fifty-two week high of $313.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.04 EPS. On average, equities analysts forecast that General Dynamics Co. will post 14.38 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was 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 in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GD shares. Susquehanna increased their target price on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $334.00 to $317.00 in a report on Tuesday, October 1st. Citigroup increased their price objective on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. BTIG Research initiated coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $320.18.

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.