Silvercrest Asset Management Group LLC cut its holdings in General Dynamics Co. (NYSE:GD) by 19.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,310 shares of the aerospace company’s stock after selling 2,656 shares during the period. Silvercrest Asset Management Group LLC’s holdings in General Dynamics were worth $2,056,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TCG Advisors LP bought a new position in General Dynamics in the 1st quarter worth approximately $38,000. Zions Bancorporation N.A. purchased a new stake in General Dynamics in the 1st quarter worth approximately $40,000. Princeton Global Asset Management LLC purchased a new stake in General Dynamics in the 1st quarter worth approximately $42,000. Meridian Wealth Management LLC purchased a new stake in General Dynamics in the 1st quarter worth approximately $48,000. Finally, NEXT Financial Group Inc lifted its stake in General Dynamics by 454.2% in the 2nd quarter. NEXT Financial Group Inc now owns 266 shares of the aerospace company’s stock worth $48,000 after purchasing an additional 218 shares in the last quarter. 86.25% of the stock is owned by institutional investors.
Shares of General Dynamics stock traded down $1.29 on Friday, hitting $186.84. 32,951 shares of the company traded hands, compared to its average volume of 963,248. The firm’s 50-day simple moving average is $186.49 and its 200 day simple moving average is $177.05. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.70. The company has a market cap of $55.26 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.85 and a beta of 1.19. General Dynamics Co. has a 12-month low of $143.87 and a 12-month high of $207.72.
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 dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, October 10th. General Dynamics’s dividend payout ratio (DPR) is currently 35.73%.
In other news, VP Gary L. Whited sold 14,029 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the sale, the vice president now owns 37,542 shares in the company, valued at approximately $7,072,161.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Mark Lagrand Burns acquired 159 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $179.56 per share, for a total transaction of $28,550.04. Following the transaction, the vice president now owns 39,643 shares in the company, valued at approximately $7,118,297.08. The disclosure for this purchase can be found here. Company insiders own 7.10% of the company’s stock.
Several analysts have issued reports on GD shares. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 target price on the stock in a research note on Monday, September 2nd. Robert W. Baird increased their target price on shares of General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Cowen set a $202.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a research note on Friday, August 30th. Morgan Stanley increased their target price on shares of General Dynamics from $171.00 to $173.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 14th. Finally, ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. General Dynamics presently has a consensus rating of “Hold” and a consensus target price of $193.35.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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