Public Employees Retirement System of Ohio Sells 5,317 Shares of General Dynamics Co. (NYSE:GD)

Public Employees Retirement System of Ohio reduced its holdings in shares of General Dynamics Co. (NYSE:GD - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,864 shares of the aerospace company's stock after selling 5,317 shares during the quarter. Public Employees Retirement System of Ohio's holdings in General Dynamics were worth $31,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GD. Austin Wealth Management LLC lifted its holdings in shares of General Dynamics by 5.4% in the 4th quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company's stock valued at $220,000 after buying an additional 42 shares during the period. SRS Capital Advisors Inc. raised its holdings in General Dynamics by 35.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company's stock worth $43,000 after purchasing an additional 43 shares during the period. Stokes Family Office LLC raised its holdings in General Dynamics by 0.4% in the 4th quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company's stock worth $2,708,000 after purchasing an additional 43 shares during the period. ICW Investment Advisors LLC raised its holdings in General Dynamics by 0.5% in the 4th quarter. ICW Investment Advisors LLC now owns 8,491 shares of the aerospace company's stock worth $2,237,000 after purchasing an additional 43 shares during the period. Finally, Lindbrook Capital LLC raised its holdings in General Dynamics by 3.9% in the 4th quarter. Lindbrook Capital LLC now owns 1,178 shares of the aerospace company's stock worth $310,000 after purchasing an additional 44 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Up 0.2%

Shares of GD stock traded up $0.48 on Thursday, hitting $274.12. The company's stock had a trading volume of 349,708 shares, compared to its average volume of 1,371,788. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a fifty-two week low of $239.20 and a fifty-two week high of $316.90. The firm's fifty day moving average price is $271.84 and its 200-day moving average price is $267.79. The stock has a market capitalization of $73.57 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 1.69 and a beta of 0.49.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping the consensus estimate of $3.43 by $0.23. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter last year, the firm posted $2.88 EPS. The business's quarterly revenue was up 13.9% on a year-over-year basis. Research analysts anticipate that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 11th were paid a $1.50 dividend. The ex-dividend date was Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a yield of 2.19%. This is a boost from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's payout ratio is presently 41.61%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GD shares. Morgan Stanley reduced their price target 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. Barclays reduced their target price on General Dynamics from $305.00 to $285.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. William Blair cut General Dynamics from an "outperform" rating to a "market perform" rating in a report on Friday, February 21st. Cowen reissued a "buy" rating on shares of General Dynamics in a report on Thursday, April 24th. Finally, UBS Group increased their target price on General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, General Dynamics presently has a consensus rating of "Hold" and an average target price of $293.00.

Insider Activity at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the sale, the senior vice president now directly owns 45,192 shares of the company's stock, valued at approximately $12,297,195.12. This represents a 37.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

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.