General Dynamics Corporation $GD Shares Sold by Public Employees Retirement Association of Colorado

Key Points

• Public Employees Retirement Association of Colorado trimmed its General Dynamics stake by 3% in the fourth quarter, selling 8,078 shares and ending with 260,347 shares valued at about $87.6 million.
• General Dynamics reported strong quarterly results, with EPS of $4.10 beating estimates of $3.67 and revenue of $13.48 billion topping expectations; revenue rose 10.3% year over year.
• The company also announced a quarterly dividend of $1.59 per share, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $388.40.

Public Employees Retirement Association of Colorado lowered its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260,347 shares of the aerospace company's stock after selling 8,078 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.10% of General Dynamics worth $87,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dunhill Financial LLC raised its stake in General Dynamics by 620.0% during the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock valued at $25,000 after buying an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of General Dynamics during the 3rd quarter worth approximately $25,000. Dagco Inc. acquired a new stake in shares of General Dynamics during the 4th quarter worth approximately $25,000. Burkett Financial Services LLC raised its position in shares of General Dynamics by 650.0% during the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock worth $26,000 after purchasing an additional 65 shares during the period. Finally, Steph & Co. raised its position in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company's stock worth $26,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Trading Down 0.1%

Shares of GD stock opened at $359.92 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. General Dynamics Corporation has a 1 year low of $275.49 and a 1 year high of $369.70. The stock has a fifty day moving average of $340.32 and a two-hundred day moving average of $346.65. The firm has a market capitalization of $97.33 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 2.23 and a beta of 0.34.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the previous year, the firm posted $3.66 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. As a group, research analysts expect that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be given a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, July 2nd. General Dynamics's payout ratio is 40.03%.

Analyst Ratings Changes

A number of analysts have recently weighed in on GD shares. Citigroup dropped their price target on General Dynamics from $380.00 to $364.00 and set a "neutral" rating on the stock in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $387.00 to $377.00 and set a "hold" rating on the stock in a research report on Wednesday, May 6th. Wells Fargo & Company started coverage on shares of General Dynamics in a research report on Wednesday, April 1st. They issued an "overweight" rating and a $400.00 price objective on the stock. UBS Group raised shares of General Dynamics from a "neutral" rating to a "buy" rating in a research note on Thursday. Finally, BNP Paribas Exane dropped their price target on shares of General Dynamics from $430.00 to $390.00 and set an "outperform" rating on the stock in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $388.40.

Insider Transactions at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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