Conning Inc. raised its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 137,531 shares of the aerospace company's stock after acquiring an additional 4,609 shares during the quarter. General Dynamics accounts for about 1.3% of Conning Inc.'s portfolio, making the stock its 10th biggest holding. Conning Inc. owned 0.05% of General Dynamics worth $37,488,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of General Dynamics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock valued at $6,265,813,000 after acquiring an additional 706,317 shares during the last quarter. Capital Research Global Investors lifted its position in shares of General Dynamics by 7.4% during the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock valued at $1,774,381,000 after acquiring an additional 463,497 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of General Dynamics by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 5,688,672 shares of the aerospace company's stock valued at $1,496,939,000 after acquiring an additional 131,268 shares during the last quarter. Sanders Capital LLC lifted its position in shares of General Dynamics by 0.8% during the 4th quarter. Sanders Capital LLC now owns 4,212,422 shares of the aerospace company's stock valued at $1,109,931,000 after acquiring an additional 33,962 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of General Dynamics by 5.2% during the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock valued at $773,355,000 after acquiring an additional 145,978 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at General Dynamics
In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $280.44, for a total value 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 $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.
Analyst Ratings Changes
GD has been the subject of a number of research analyst reports. TD Cowen increased their target price on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Citigroup reduced 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. 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. Cowen restated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Finally, Morgan Stanley reduced their target price 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. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $290.24.
Read Our Latest Stock Report on General Dynamics
General Dynamics Stock Up 0.0%
GD traded up $0.08 during trading on Friday, reaching $294.00. 646,635 shares of the stock traded hands, compared to its average volume of 1,395,994. The stock has a market cap of $78.91 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.98 and a beta of 0.46. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week 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's 50-day simple moving average is $278.32 and its two-hundred day simple moving average is $267.85.
General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The company had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The business's quarterly revenue was up 13.9% compared to the same quarter last year. As a group, equities research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.
General Dynamics Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.04%. General Dynamics's dividend payout ratio is currently 41.61%.
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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