Maryland State Retirement & Pension System lowered its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 13.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,767 shares of the aerospace company's stock after selling 1,966 shares during the period. Maryland State Retirement & Pension System's holdings in General Dynamics were worth $3,480,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Rialto Wealth Management LLC boosted 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 buying an additional 62 shares during the period. Inlight Wealth Management LLC acquired a new position in shares of General Dynamics during the first quarter worth approximately $26,000. Copia Wealth Management acquired a new position in shares of General Dynamics during the fourth quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of General Dynamics during the first quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Dynamics during the fourth quarter worth approximately $28,000. Institutional investors own 86.14% of the company's stock.
General Dynamics Trading Down 0.7%
Shares of NYSE:GD opened at $312.68 on Friday. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $322.50. The stock has a market capitalization of $84.11 billion, a PE ratio of 20.99, a P/E/G ratio of 1.93 and a beta of 0.48. The firm has a fifty day moving average price of $294.07 and a 200 day moving average price of $275.16. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32.
General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The firm had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. During the same quarter in the prior year, the firm posted $3.26 EPS. The company's revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.
General Dynamics Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. General Dynamics's dividend payout ratio (DPR) is presently 40.27%.
Insider Transactions at General Dynamics
In other news, CEO Phebe N. Novakovic sold 7,639 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the completion of the sale, the chief executive officer owned 769,607 shares of the company's stock, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leon Rudy F. De sold 5,490 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the sale, the director directly owned 5,483 shares of the company's stock, valued at approximately $1,715,137.23. The trade was a 50.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,370 shares of company stock valued at $78,408,011. Corporate insiders own 1.50% of the company's stock.
Analyst Upgrades and Downgrades
GD has been the topic of several recent analyst reports. Barclays boosted their target price on General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. TD Securities boosted 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. Argus set a $295.00 price target on General Dynamics in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their price target on General Dynamics from $284.00 to $345.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Susquehanna upped their price target on General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of "Hold" and a consensus price target of $315.78.
View Our Latest Analysis on General Dynamics
General Dynamics Profile
(
Free Report)
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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