General Dynamics Co. (NYSE:GD) Holdings Reduced by Clear Perspective Advisors LLC

Clear Perspective Advisors LLC lowered its holdings in General Dynamics Co. (NYSE:GD) by 22.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,646 shares of the aerospace company’s stock after selling 1,080 shares during the quarter. Clear Perspective Advisors LLC’s holdings in General Dynamics were worth $633,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley increased its position in shares of General Dynamics by 1.7% in the third quarter. Morgan Stanley now owns 916,988 shares of the aerospace company’s stock valued at $187,727,000 after acquiring an additional 15,746 shares during the last quarter. Vanguard Group Inc increased its stake in General Dynamics by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 20,905,951 shares of the aerospace company’s stock valued at $4,279,866,000 after buying an additional 357,032 shares during the last quarter. NuWave Investment Management LLC increased its stake in General Dynamics by 22.9% in the 4th quarter. NuWave Investment Management LLC now owns 736 shares of the aerospace company’s stock valued at $116,000 after buying an additional 137 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in General Dynamics in the 4th quarter valued at about $241,000. Finally, Bartlett & Co. LLC increased its stake in General Dynamics by 49.2% in the 4th quarter. Bartlett & Co. LLC now owns 57,176 shares of the aerospace company’s stock valued at $8,989,000 after buying an additional 18,856 shares during the last quarter. 86.48% of the stock is owned by institutional investors.

In other news, EVP John Patrick Casey sold 45,470 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $172.46, for a total transaction of $7,841,756.20. Following the completion of the sale, the executive vice president now owns 148,133 shares of the company’s stock, valued at $25,547,017.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.10% of the stock is owned by corporate insiders.

GD has been the subject of several research analyst reports. Cowen restated a “buy” rating and set a $202.00 price target on shares of General Dynamics in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upgraded shares of General Dynamics from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $188.00 to $200.00 in a research note on Thursday, April 25th. They noted that the move was a valuation call. UBS Group raised their price target on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Zacks Investment Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Credit Suisse Group lowered shares of General Dynamics from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $190.00 to $184.00 in a research note on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $196.22.

Shares of GD traded down $0.69 during trading hours on Friday, hitting $171.25. The stock had a trading volume of 694,464 shares, compared to its average volume of 1,346,360. The stock has a market cap of $49.12 billion, a P/E ratio of 15.00, a P/E/G ratio of 1.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.82. General Dynamics Co. has a fifty-two week low of $143.87 and a fifty-two week high of $207.72.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The business had revenue of $9.26 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter in the prior year, the firm earned $2.65 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities analysts expect that General Dynamics Co. will post 11.76 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Wednesday, July 3rd. General Dynamics’s payout ratio is 35.73%.

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General Dynamics Company Profile

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.

Further Reading: Why are trading ranges significant?

Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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