Chesley Taft & Associates LLC Decreases Position in General Dynamics Co. (GD)

Chesley Taft & Associates LLC reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 94.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,750 shares of the aerospace company’s stock after selling 42,835 shares during the quarter. Chesley Taft & Associates LLC’s holdings in General Dynamics were worth $563,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Newport Trust Co raised its position in General Dynamics by 0.3% during the second quarter. Newport Trust Co now owns 21,068,046 shares of the aerospace company’s stock valued at $3,927,294,000 after acquiring an additional 66,593 shares in the last quarter. BlackRock Inc. raised its position in shares of General Dynamics by 1.1% in the second quarter. BlackRock Inc. now owns 17,024,342 shares of the aerospace company’s stock valued at $3,173,507,000 after purchasing an additional 191,353 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of General Dynamics by 29.0% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,243,297 shares of the aerospace company’s stock valued at $418,173,000 after purchasing an additional 504,326 shares during the period. Bank of Montreal Can bought a new position in shares of General Dynamics in the second quarter valued at approximately $258,844,000. Finally, Iridian Asset Management LLC CT raised its position in shares of General Dynamics by 1.6% in the second quarter. Iridian Asset Management LLC CT now owns 1,324,996 shares of the aerospace company’s stock valued at $246,993,000 after purchasing an additional 20,314 shares during the period. Institutional investors and hedge funds own 85.41% of the company’s stock.

In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of General Dynamics stock in a transaction on Monday, July 16th. The shares were sold at an average price of $191.99, for a total transaction of $4,319,775.00. Following the sale, the insider now owns 118,555 shares in the company, valued at $22,761,374.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider S. Daniel Johnson sold 77,810 shares of General Dynamics stock in a transaction on Friday, September 14th. The stock was sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the sale, the insider now owns 99,333 shares in the company, valued at approximately $19,851,700.05. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.

Shares of GD stock opened at $191.85 on Friday. General Dynamics Co. has a 1 year low of $184.21 and a 1 year high of $230.00. The firm has a market cap of $60.81 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.64 and a beta of 0.77. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 1.20.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.33. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. The business had revenue of $9.19 billion for the quarter, compared to analyst estimates of $9.09 billion. During the same quarter in the previous year, the firm posted $2.45 earnings per share. General Dynamics’s revenue was up 19.7% compared to the same quarter last year. Analysts predict that General Dynamics Co. will post 11.22 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $3.72 dividend on an annualized basis and a yield of 1.94%. General Dynamics’s dividend payout ratio is currently 37.39%.

A number of equities analysts have recently commented on GD shares. Zacks Investment Research lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. Bank of America set a $275.00 price target on shares of General Dynamics and gave the company a “buy” rating in a research report on Tuesday, July 31st. Credit Suisse Group lifted their price target on shares of General Dynamics from $224.00 to $229.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Finally, Morgan Stanley dropped their target price on shares of General Dynamics from $215.00 to $207.00 and set an “underweight” rating on the stock in a research report on Friday, June 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $241.12.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

Recommended Story: Analyst Ratings

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD).

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

Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply