Venture Visionary Partners LLC Sells 283 Shares of General Dynamics Co. (NYSE:GD)

Venture Visionary Partners LLC lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 12.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,016 shares of the aerospace company’s stock after selling 283 shares during the period. Venture Visionary Partners LLC’s holdings in General Dynamics were worth $609,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GD. Kingsview Wealth Management LLC raised its holdings in General Dynamics by 87.6% in the 1st quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after acquiring an additional 6,858 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of General Dynamics in the first quarter worth $493,000. Wealth Enhancement Advisory Services LLC raised its stake in General Dynamics by 2.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock valued at $41,734,000 after purchasing an additional 3,531 shares in the last quarter. Cetera Investment Advisers lifted its position in General Dynamics by 291.4% during the first quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock worth $27,271,000 after purchasing an additional 71,871 shares during the period. Finally, Peak Financial Advisors LLC acquired a new stake in General Dynamics during the third quarter worth about $3,022,000. 86.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GD. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. 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. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $334.00 to $317.00 in a research note on Tuesday, October 1st. Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.18.

General Dynamics Stock Down 0.7 %

Shares of NYSE:GD opened at $305.92 on Wednesday. The firm has a market cap of $83.93 billion, a P/E ratio of 24.95, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics Co. has a 12-month low of $232.29 and a 12-month high of $310.85. The business has a fifty day simple moving average of $299.96 and a 200 day simple moving average of $294.48. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last issued its quarterly earnings data 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 the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.70 earnings per share. Analysts predict that General Dynamics Co. will post 14.38 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 given a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.86%. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 completion of the transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.52% of the company’s stock.

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.