General Dynamics Corporation (NYSE:GD) Holdings Increased by Kentucky Retirement Systems

Kentucky Retirement Systems grew its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,647 shares of the aerospace company's stock after buying an additional 926 shares during the quarter. Kentucky Retirement Systems' holdings in General Dynamics were worth $5,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. Rialto Wealth Management LLC grew its stake in shares of General Dynamics by 213.8% in the 1st 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. Whipplewood Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of General Dynamics in the 4th quarter worth approximately $26,000. Inlight Wealth Management LLC acquired a new position in shares of General Dynamics in the 1st quarter worth approximately $26,000. Finally, Copia Wealth Management acquired a new position in shares of General Dynamics in the 4th quarter worth approximately $27,000. 86.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Dynamics

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GD shares. Citigroup lowered their price objective on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. TD Securities lifted their price objective on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research note on Thursday, April 24th. Susquehanna raised their target price on shares of General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a report on Wednesday, April 2nd. Finally, Argus set a $295.00 target price on shares of General Dynamics in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Dynamics presently has an average rating of "Hold" and a consensus target price of $293.00.

General Dynamics Stock Performance

GD stock opened at $278.46 on Monday. 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 cap of $74.74 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.88 and a beta of 0.46. The firm has a 50 day simple moving average of $275.58 and a 200 day simple moving average of $266.45. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly 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. The business had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $2.88 earnings per share. Research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 2.15%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

General Dynamics Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.