Sompo Asset Management Co. Ltd. is reducing its position in General Dynamics Co. (NYSE:GD)

Sompo Asset Management Co. Ltd. reduced its holdings in General Dynamics Co. (NYSE:GD – Free Report) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,660 shares of the aerospace company’s stock after selling 380 shares during the period. The holdings of Sompo Asset Management Co. Ltd.’s holdings in General Dynamics were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics in the first quarter valued at $25,000. Richardson Financial Services Inc. purchased a new position in shares of General Dynamics during the 4th quarter valued at approximately $25,000. American Capital Advisory LLC purchased a new stake in shares of General Dynamics in the second quarter valued at approximately $29,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics in the first quarter worth approximately $29,000. Finally, New Covenant Trust Company NA purchased a new position in General Dynamics during the first quarter valued at about $29,000. 86.14% of the shares are currently held by institutional investors and hedge funds.

Analyst upgrades and downgrades

Several equities analysts recently commented on the company. Barclays boosted their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $293.00 to $345.00 in a research note on Friday , August 9. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Finally, BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Moderate Buy” and an average price target of $315.06, according to MarketBeat .

Get the latest research report on General Dynamics

General Dynamics trading up 0.7%

Shares of General Dynamics stock opened at $306.87 on Friday. The company’s fifty day moving average is $294.79 and its two hundred day moving average is $290.97. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $309.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80, and a current ratio of 1.33. The company has a market cap of $84.19 billion, a P/E ratio of 25.03, 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.70 EPS. Analysts estimate that General Dynamics Co. will record 14.52 earnings per share for the current year.

General Dynamics announces dividend

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

Inside Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. 1.52% of shares are owned by corporate insiders.

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.

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