Asset Management One Co. Ltd. Purchases 7,091 Shares of General Dynamics Corporation (NYSE:GD)

Asset Management One Co. Ltd. boosted its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,767 shares of the aerospace company's stock after purchasing an additional 7,091 shares during the quarter. Asset Management One Co. Ltd.'s holdings in General Dynamics were worth $25,832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC lifted its holdings 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 buying an additional 62 shares in the last quarter. Inlight Wealth Management LLC acquired a new stake in shares of General Dynamics during the first quarter worth $26,000. Whipplewood Advisors LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth $26,000. Finally, Copia Wealth Management acquired a new stake in shares of General Dynamics during the fourth quarter worth $27,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 769,607 shares in the company, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

General Dynamics Price Performance

NYSE GD traded up $5.72 on Thursday, reaching $291.63. 1,715,285 shares of the company's stock traded hands, compared to its average volume of 1,395,102. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. The stock has a 50-day simple moving average of $275.93 and a 200 day simple moving average of $266.76. The stock has a market cap of $78.27 billion, a PE ratio of 20.22, a P/E/G ratio of 1.89 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.88 earnings per share. As a group, research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

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

Analysts Set New Price Targets

GD has been the subject of a number of research reports. Citigroup dropped their target price on General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a report on Thursday, April 10th. TD Securities lifted their target price on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Susquehanna boosted their price target on General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research note on Wednesday, April 2nd. TD Cowen boosted their price target on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, UBS Group boosted their price target on General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $293.28.

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.