Aljian Capital Management LLC Buys Shares of 3,952 General Dynamics Corporation (NYSE:GD)

Aljian Capital Management LLC acquired a new stake in General Dynamics Corporation (NYSE:GD - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,952 shares of the aerospace company's stock, valued at approximately $1,077,000.

A number of other institutional investors have also modified their holdings of GD. Jeppson Wealth Management LLC grew its stake in General Dynamics by 34.2% during the 1st quarter. Jeppson Wealth Management LLC now owns 1,286 shares of the aerospace company's stock worth $351,000 after purchasing an additional 328 shares in the last quarter. Tsfg LLC grew its stake in General Dynamics by 76.6% during the 1st quarter. Tsfg LLC now owns 528 shares of the aerospace company's stock worth $144,000 after purchasing an additional 229 shares in the last quarter. Gold Investment Management Ltd. grew its stake in General Dynamics by 2.7% during the 1st quarter. Gold Investment Management Ltd. now owns 5,394 shares of the aerospace company's stock worth $1,470,000 after purchasing an additional 141 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new position in General Dynamics during the 1st quarter worth $251,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in General Dynamics by 8.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,434 shares of the aerospace company's stock worth $10,073,000 after purchasing an additional 2,786 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GD has been the subject of several analyst reports. TD Securities boosted their target price on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Argus set a $295.00 price objective on General Dynamics in a research report on Tuesday, May 6th. UBS Group upped their price objective on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research report on Wednesday. Finally, Citigroup lowered their price objective on General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of "Hold" and a consensus target price of $290.24.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 178,821 shares of General Dynamics stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $283.13, for a total value of $50,629,589.73. Following the transaction, the chief executive officer now directly owns 769,607 shares in the company, valued at approximately $217,898,829.91. The trade was a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company's stock.

General Dynamics Stock Down 0.2%

Shares of GD stock opened at $290.83 on Friday. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $316.90. The stock has a market cap of $78.06 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.96 and a beta of 0.46. The business's fifty day moving average is $276.55 and its 200-day moving average is $267.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. The business had revenue of $12.22 billion for the quarter, compared to analysts' expectations of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The company's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.88 EPS. Equities analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.06%. General Dynamics's dividend payout ratio is currently 41.61%.

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.

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