Brown Brothers Harriman & Co. sells 444 shares of General Dynamics Co. (NYSE:GD)

Brown Brothers Harriman & Co. reduced its holdings in General Dynamics Co. (NYSE:GD – Free Report) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,390 shares of the aerospace company’s stock after selling 444 shares during the period. The holdings of Brown Brothers Harriman & Co. holdings in General Dynamics were worth $2,434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have recently made changes to their positions in the business. Rathbones Group PLC grew its position in General Dynamics by 1.8% in the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock worth $587,000 after acquiring an additional 35 shares during the period. Diversify Wealth Management LLC acquired a new stake in shares of General Dynamics in the second quarter valued at $2,415,000. JW Cole Advisors Inc. boosted its holdings in General Dynamics by 96.7% in the second quarter. JW Cole Advisors Inc. now owns 8,692 shares of the aerospace company’s stock worth $2,522,000 after buying an additional 4,273 shares during the period. Envestnet Asset Management Inc. grew its position in General Dynamics by 1.0% during the second quarter. Envestnet Asset Management Inc. now owns 870,968 shares of the aerospace company’s stock valued at $252,703,000 after purchasing an additional 8,738 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in General Dynamics by 10.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 123,095 shares of the aerospace company’s stock valued at $35,715,000 after buying an additional 12,102 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s shares.

General Dynamics stock performance

Shares of NYSE:GD opened at $307.56 on Tuesday. The firm has a fifty day simple moving average of $293.02 and a two hundred day simple moving average of $290.34. General Dynamics Co. it has a 52-week low of $214.53 and a 52-week high of $309.97. The company has a quick ratio of 0.80, a current ratio of 1.33, and a debt-to-equity ratio of 0.33. The stock has a market cap of $84.38 billion, a P/E ratio of 25.09, a PEG ratio of 1.64 and a beta of 0.61.

General Dynamics (NYSE:GD – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. In the same quarter in the previous year, the business posted EPS of $2.70. The company’s revenue increased by 18.0% year-over-year. On average, analysts expect that General Dynamics Co. to post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, October 11. This represents an annualized dividend of $5.68 and a yield of 1.85%. General Dynamics’ payout ratio is currently 46.33%.

Analyst upgrades and downgrades

A number of analysts recently issued reports on GD shares. Sanford C. Bernstein boosted their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $293.00 to $345.00 in a research report on Friday , August 9. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Finally, BTIG Research assumed coverage on shares of General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat , General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $315.06.

Check out our latest stock report on General Dynamics

General Dynamics Company Profile

(Free report)

General Dynamics Corporation operates as a global aerospace and defense company. It operates through four segments: Aerospace, Marine Systems, Combat Systems and Technologies. The Aerospace segment manufactures and sells business aircraft; and provides aircraft maintenance and repair, management, support and aircraft ground completion, charter, staffing and fixed-base operator services.

Further reading

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