Raymond James Trust N.A. decreased its stake in General Dynamics Co. (NYSE:GD) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,164 shares of the aerospace company’s stock after selling 742 shares during the quarter. Raymond James Trust N.A.’s holdings in General Dynamics were worth $3,413,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ridgewood Investments LLC lifted its stake in shares of General Dynamics by 113.1% in the first quarter. Ridgewood Investments LLC now owns 3,248 shares of the aerospace company’s stock worth $550,000 after buying an additional 1,724 shares in the last quarter. Retirement Systems of Alabama lifted its stake in shares of General Dynamics by 0.3% in the first quarter. Retirement Systems of Alabama now owns 159,769 shares of the aerospace company’s stock worth $27,046,000 after buying an additional 453 shares in the last quarter. American Asset Management Inc. purchased a new position in shares of General Dynamics in the first quarter worth about $201,000. American National Bank purchased a new position in shares of General Dynamics in the first quarter worth about $840,000. Finally, Virtu Financial LLC lifted its stake in shares of General Dynamics by 63.0% in the first quarter. Virtu Financial LLC now owns 8,155 shares of the aerospace company’s stock worth $1,380,000 after buying an additional 3,151 shares in the last quarter. Institutional investors and hedge funds own 87.26% of the company’s stock.
Shares of GD traded down $2.93 during trading on Monday, reaching $172.00. 1,209,242 shares of the company traded hands, compared to its average volume of 1,370,479. General Dynamics Co. has a twelve month low of $143.87 and a twelve month high of $229.74. The stock has a market cap of $50.51 billion, a PE ratio of 15.06, a P/E/G ratio of 1.59 and a beta of 1.12. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.23 and a quick ratio of 0.83.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.09. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.34 billion. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 earnings per share. As a group, sell-side analysts expect that General Dynamics Co. will post 11.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. General Dynamics’s payout ratio is 35.73%.
In related news, VP Gary L. Whited sold 14,640 shares of General Dynamics stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $165.38, for a total value of $2,421,163.20. Following the completion of the transaction, the vice president now owns 30,462 shares in the company, valued at $5,037,805.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lester L. Lyles sold 4,580 shares of General Dynamics stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $172.42, for a total transaction of $789,683.60. Following the completion of the transaction, the director now owns 12,314 shares of the company’s stock, valued at approximately $2,123,179.88. The disclosure for this sale can be found here. Insiders sold 21,547 shares of company stock valued at $3,609,299 in the last 90 days. Company insiders own 7.10% of the company’s stock.
GD has been the topic of a number of analyst reports. Jefferies Financial Group downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $197.00 to $164.00 in a research note on Tuesday, January 8th. FIG Partners raised shares of General Dynamics to an “add” rating in a research note on Tuesday, January 8th. Susquehanna Bancshares initiated coverage on shares of General Dynamics in a research note on Thursday, January 10th. They set a “neutral” rating and a $175.00 target price on the stock. Citigroup reduced their target price on shares of General Dynamics from $195.00 to $175.00 and set a “neutral” rating on the stock in a research note on Monday, January 14th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $190.00 target price on shares of General Dynamics in a research note on Monday, January 14th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $204.43.
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General Dynamics Company 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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