General Dynamics Corporation (NYSE:GD) Stake Lifted by Pzena Investment Management LLC

Pzena Investment Management LLC raised its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 2.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 278,528 shares of the aerospace company's stock after acquiring an additional 7,753 shares during the period. Pzena Investment Management LLC owned 0.10% of General Dynamics worth $75,921,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GD. Rialto Wealth Management LLC grew its stake in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after buying an additional 62 shares during the period. Inlight Wealth Management LLC purchased a new stake in shares of General Dynamics during the 1st quarter valued at $26,000. Copia Wealth Management purchased a new stake in shares of General Dynamics during the 4th quarter valued at $27,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Dynamics during the 1st quarter valued at $27,000. Finally, Hoey Investments Inc. purchased a new stake in shares of General Dynamics during the 4th quarter valued at $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

GD traded down $0.87 on Friday, hitting $299.22. 1,636,205 shares of the company's stock were exchanged, compared to its average volume of 1,402,718. The firm has a market cap of $80.31 billion, a PE ratio of 20.75, a P/E/G ratio of 2.00 and a beta of 0.46. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $316.90. The stock has a fifty day moving average of $283.92 and a two-hundred day moving average of $270.29. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.23. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. General Dynamics's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.88 earnings per share. On average, research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced 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. This represents a $6.00 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) is 41.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the stock a "market perform" rating in a research report on Monday. Citigroup reaffirmed a "buy" rating and set a $348.00 price target (up from $330.00) on shares of General Dynamics in a research report on Monday. Argus set a $295.00 price target on shares of General Dynamics in a research report on Tuesday, May 6th. UBS Group upped their price target on shares of General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, Susquehanna upped their price target on shares of General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, General Dynamics has an average rating of "Hold" and a consensus target price of $294.53.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.50% of the company's stock.

General Dynamics 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.