Toth Financial Advisory Corp Trims Stock Holdings in General Dynamics Co. (NYSE:GD)

Toth Financial Advisory Corp reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 22,071 shares of the aerospace company’s stock after selling 587 shares during the period. Toth Financial Advisory Corp’s holdings in General Dynamics were worth $6,016,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GD. GAMMA Investing LLC boosted its holdings in shares of General Dynamics by 34,578.2% in the first quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company’s stock valued at $339,253,000 after purchasing an additional 1,241,011 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in General Dynamics during the 4th quarter valued at $279,582,000. Raymond James Financial Inc. purchased a new stake in shares of General Dynamics in the 4th quarter worth $197,238,000. Vanguard Group Inc. lifted its holdings in shares of General Dynamics by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock worth $6,265,813,000 after buying an additional 706,317 shares during the period. Finally, Capital Research Global Investors grew its position in shares of General Dynamics by 7.4% during the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company’s stock worth $1,774,381,000 after buying an additional 463,497 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the subject of a number of research reports. Citigroup lowered their price objective on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. UBS Group upped their price target on General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. Morgan Stanley decreased their price target on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Wells Fargo & Company cut their price target on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $293.00.

General Dynamics Price Performance

Shares of NYSE GD opened at $276.43 on Monday. The firm has a 50-day simple moving average of $272.69 and a 200-day simple moving average of $266.53. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $74.19 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.69 and a beta of 0.46. General Dynamics Co. has a 52 week low of $239.20 and a 52 week high of $316.90.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. General Dynamics’s quarterly revenue was up 13.9% on a year-over-year basis. On average, equities analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 2.17%. General Dynamics’s payout ratio is 41.61%.

General Dynamics Profile

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.