Ensign Peak Advisors Inc Sells 1,830 Shares of General Dynamics Co. (NYSE:GD)

Ensign Peak Advisors Inc cut its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,251 shares of the aerospace company's stock after selling 1,830 shares during the quarter. Ensign Peak Advisors Inc's holdings in General Dynamics were worth $9,552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at $279,582,000. Raymond James Financial Inc. purchased a new stake in shares of General Dynamics during the fourth quarter valued at $197,238,000. Vanguard Group Inc. boosted its position in shares of General Dynamics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock valued at $6,265,813,000 after buying an additional 706,317 shares during the last quarter. Capital Research Global Investors boosted its position in shares of General Dynamics by 7.4% during the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock valued at $1,774,381,000 after buying an additional 463,497 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of General Dynamics by 43.1% during the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company's stock valued at $284,818,000 after buying an additional 283,972 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Price Performance

NYSE GD traded up $2.03 during trading hours on Friday, reaching $280.54. The company's stock had a trading volume of 1,173,759 shares, compared to its average volume of 1,371,403. The firm's 50-day moving average price is $269.38 and its 200-day moving average price is $269.18. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 1 year low of $239.20 and a 1 year high of $316.90. The company has a market capitalization of $75.29 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.69 and a beta of 0.49.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The company had revenue of $12.22 billion for the quarter, compared to analysts' expectations of $11.92 billion. During the same period in the previous year, the firm earned $2.88 EPS. The firm's revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts predict that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 11th were issued a $1.50 dividend. The ex-dividend date was Friday, April 11th. This is a boost from General Dynamics's previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.14%. General Dynamics's payout ratio is currently 41.61%.

Insider Buying and Selling

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the sale, the senior vice president now owns 45,192 shares of the company's stock, valued at $12,297,195.12. The trade was a 37.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. The Goldman Sachs Group dropped their price objective on General Dynamics from $245.00 to $241.00 and set a "sell" rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley dropped their target price on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada dropped their target price on General Dynamics from $290.00 to $280.00 and set a "sector perform" rating on the stock in a research report on Thursday, January 30th. JPMorgan Chase & Co. dropped their target price on General Dynamics from $307.00 to $284.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Finally, Argus set a $295.00 target price on General Dynamics in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $293.00.

About General Dynamics

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.