General Dynamics Corporation (NYSE:GD) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System boosted its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,591 shares of the aerospace company's stock after buying an additional 1,500 shares during the quarter. Arizona State Retirement System's holdings in General Dynamics were worth $18,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of GD. Rialto Wealth Management LLC lifted its position in shares of General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after purchasing an additional 62 shares during the last quarter. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics during the first quarter worth $26,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of General Dynamics during the first quarter worth $27,000. Copia Wealth Management bought a new stake in shares of General Dynamics during the fourth quarter worth $27,000. Finally, Hoey Investments Inc. bought a new stake in shares of General Dynamics during the fourth quarter worth $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Down 0.4%

NYSE:GD traded down $1.18 during midday trading on Friday, reaching $302.20. 952,540 shares of the stock traded hands, compared to its average volume of 1,400,899. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $316.90. The business has a 50-day moving average of $281.48 and a two-hundred day moving average of $269.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. The stock has a market capitalization of $81.11 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. General Dynamics's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities analysts forecast 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 paid a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 1.99%. General Dynamics's payout ratio is 41.61%.

Insider Transactions at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GD. Susquehanna lifted their target price on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research report on Wednesday, April 2nd. UBS Group lifted their price objective on General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. TD Cowen lifted their price objective on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Morgan Stanley decreased their price objective on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, TD Securities lifted their price objective on General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $294.47.

General Dynamics 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.