Murphy Pohlad Asset Management LLC Sells 140 Shares of General Dynamics Co. (NYSE:GD)

Murphy Pohlad Asset Management LLC reduced its position in shares of General Dynamics Co. (NYSE:GD) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,430 shares of the aerospace company’s stock after selling 140 shares during the quarter. General Dynamics comprises 1.8% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 13th biggest position. Murphy Pohlad Asset Management LLC’s holdings in General Dynamics were worth $4,361,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its stake in shares of General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after purchasing an additional 293,316 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after buying an additional 115,063 shares during the period. Ameriprise Financial Inc. increased its stake in shares of General Dynamics by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after acquiring an additional 47,915 shares during the last quarter. Boston Partners raised its position in shares of General Dynamics by 1.4% in the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after acquiring an additional 23,262 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in General Dynamics by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after acquiring an additional 23,304 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on GD shares. Susquehanna upped their target price on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Barclays upped their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday. Finally, Sanford C. Bernstein dropped their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

General Dynamics Stock Performance

Shares of GD opened at $292.99 on Friday. The stock has a market capitalization of $80.56 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.80 and a beta of 0.61. General Dynamics Co. has a 12 month low of $238.31 and a 12 month high of $313.11. The firm has a fifty day simple moving average of $300.83 and a 200 day simple moving average of $295.03. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 earnings per share. Research analysts forecast that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.94%. General Dynamics’s dividend payout ratio is 43.26%.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.52% of the company’s stock.

General Dynamics Company 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.