Securian Asset Management Inc trimmed its position in General Dynamics Co. (NYSE:GD) by 1.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 27,768 shares of the aerospace company’s stock after selling 374 shares during the period. Securian Asset Management Inc’s holdings in General Dynamics were worth $4,701,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GD. Arrow Financial Corp raised its stake in shares of General Dynamics by 1.2% in the 1st quarter. Arrow Financial Corp now owns 6,741 shares of the aerospace company’s stock valued at $1,141,000 after purchasing an additional 80 shares during the period. World Asset Management Inc increased its position in shares of General Dynamics by 8.2% in the first quarter. World Asset Management Inc now owns 19,862 shares of the aerospace company’s stock valued at $3,362,000 after acquiring an additional 1,504 shares during the last quarter. NewFocus Financial Group LLC increased its position in shares of General Dynamics by 3.3% in the first quarter. NewFocus Financial Group LLC now owns 10,562 shares of the aerospace company’s stock valued at $1,788,000 after acquiring an additional 333 shares during the last quarter. Brightworth grew its holdings in General Dynamics by 1.2% during the first quarter. Brightworth now owns 29,199 shares of the aerospace company’s stock worth $4,943,000 after purchasing an additional 351 shares during the period. Finally, Private Capital Group LLC grew its holdings in General Dynamics by 13.4% during the first quarter. Private Capital Group LLC now owns 1,764 shares of the aerospace company’s stock worth $299,000 after purchasing an additional 209 shares during the period. Hedge funds and other institutional investors own 86.41% of the company’s stock.
NYSE GD traded down $2.17 on Wednesday, reaching $169.28. The company had a trading volume of 916,570 shares, compared to its average volume of 1,369,919. The company has a market capitalization of $48.06 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.59 and a beta of 1.13. General Dynamics Co. has a fifty-two week low of $143.87 and a fifty-two week high of $208.88. The company has a quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.
General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.18. The business had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $8.90 billion. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. General Dynamics’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.65 earnings per share. Research analysts expect that General Dynamics Co. will post 11.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 12th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $4.08 dividend on an annualized basis and a yield of 2.41%. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. General Dynamics’s dividend payout ratio is 35.73%.
A number of equities analysts recently commented on GD shares. Zacks Investment Research cut General Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Argus cut General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price objective for the company. in a report on Thursday, January 31st. ValuEngine cut General Dynamics from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. Sanford C. Bernstein reduced their price objective on General Dynamics from $186.00 to $178.00 and set a “market perform” rating for the company in a report on Monday, February 4th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research note on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $198.16.
In related news, EVP John Patrick Casey sold 45,470 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $172.46, for a total value of $7,841,756.20. Following the sale, the executive vice president now owns 148,133 shares in the company, valued at approximately $25,547,017.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gary L. Whited sold 14,640 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the completion of the sale, the vice president now owns 30,462 shares in the company, valued at approximately $5,037,805.56. The disclosure for this sale can be found here. Insiders have sold 64,690 shares of company stock worth $11,052,603 in the last ninety days. Insiders own 7.10% of the company’s stock.
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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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