Cadence Capital Management LLC Sells 1,719 Shares of General Dynamics Co. (NYSE:GD)

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Cadence Capital Management LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 19.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,326 shares of the aerospace company’s stock after selling 1,719 shares during the quarter. Cadence Capital Management LLC’s holdings in General Dynamics were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Hudson Capital Management LLC lifted its position in General Dynamics by 5.1% during the third quarter. Hudson Capital Management LLC now owns 12,542 shares of the aerospace company’s stock valued at $1,736,000 after purchasing an additional 613 shares during the last quarter. Denali Advisors LLC bought a new stake in General Dynamics during the third quarter valued at approximately $5,067,000. Surevest LLC lifted its position in General Dynamics by 8.5% during the third quarter. Surevest LLC now owns 22,965 shares of the aerospace company’s stock valued at $3,179,000 after purchasing an additional 1,808 shares during the last quarter. Fluent Financial LLC lifted its position in General Dynamics by 17.2% during the third quarter. Fluent Financial LLC now owns 9,694 shares of the aerospace company’s stock valued at $1,342,000 after purchasing an additional 1,425 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in General Dynamics during the third quarter valued at approximately $429,000. Institutional investors and hedge funds own 84.98% of the company’s stock.

GD traded up $1.43 during trading on Friday, reaching $142.24. The company had a trading volume of 2,653,296 shares, compared to its average volume of 1,691,205. General Dynamics Co. has a 52 week low of $100.55 and a 52 week high of $190.08. The stock has a market cap of $40.81 billion, a P/E ratio of 12.63, a PEG ratio of 2.52 and a beta of 1.02. The business has a 50 day simple moving average of $144.54 and a 200-day simple moving average of $144.00. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.75.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 29th. The aerospace company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. General Dynamics had a return on equity of 24.10% and a net margin of 8.47%. The business had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $9.03 billion. During the same period last year, the company earned $2.77 earnings per share. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, equities research analysts expect that General Dynamics Co. will post 11.04 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $4.40 annualized dividend and a yield of 3.09%. General Dynamics’s dividend payout ratio (DPR) is presently 36.73%.

In other General Dynamics news, VP William A. Moss sold 4,778 shares of General Dynamics stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $136.68, for a total value of $653,057.04. Following the transaction, the vice president now owns 12,241 shares in the company, valued at $1,673,099.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.60% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on GD shares. Royal Bank of Canada boosted their price objective on shares of General Dynamics from $157.00 to $164.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Jefferies Financial Group restated a “hold” rating and issued a $160.00 price objective on shares of General Dynamics in a report on Tuesday, August 11th. Stifel Nicolaus lowered their price objective on shares of General Dynamics from $180.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, July 30th. Morgan Stanley started coverage on shares of General Dynamics in a report on Tuesday, September 8th. They issued an “underweight” rating and a $163.00 price objective for the company. Finally, TheStreet lowered shares of General Dynamics from a “b-” rating to a “c+” rating in a report on Thursday, July 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. General Dynamics currently has an average rating of “Hold” and a consensus target price of $173.19.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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

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