Fishman Jay A Ltd. MI lessened its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 31.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,549 shares of the aerospace company's stock after selling 7,880 shares during the quarter. General Dynamics makes up about 0.5% of Fishman Jay A Ltd. MI's holdings, making the stock its 28th largest position. Fishman Jay A Ltd. MI's holdings in General Dynamics were worth $4,784,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in GD. Vanguard Group Inc. increased its position in General Dynamics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock worth $6,265,813,000 after purchasing an additional 706,317 shares in the last quarter. Capital Research Global Investors grew its position in General Dynamics by 7.4% in the fourth 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 in the last quarter. Geode Capital Management LLC boosted its stake 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 buying an additional 131,268 shares during the last quarter. Sanders Capital LLC lifted its stake in General Dynamics by 0.8% during the fourth quarter. Sanders Capital LLC now owns 4,212,422 shares of the aerospace company's stock worth $1,109,931,000 after purchasing an additional 33,962 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in General Dynamics by 5.2% during the fourth quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock worth $773,355,000 after purchasing an additional 145,978 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.
General Dynamics Trading Down 0.0%
Shares of NYSE GD opened at $278.46 on Friday. The stock has a market cap of $74.74 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.87 and a beta of 0.46. The business has a 50 day simple moving average of $275.58 and a 200 day simple moving average of $266.58. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $316.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34.
General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The company's 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 predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.
General Dynamics Announces Dividend
The business 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 dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 2.15%. General Dynamics's payout ratio is currently 41.61%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on GD shares. UBS Group increased their target price on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Susquehanna increased their target price on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research report on Wednesday, April 2nd. Citigroup lowered their price target on General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Argus set a $295.00 target price on General Dynamics in a report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their target price on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $293.00.
View Our Latest Analysis on GD
Insiders Place Their Bets
In other news, CEO Phebe N. Novakovic sold 7,639 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the sale, the chief executive officer now owns 769,607 shares in the company, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.50% of the company's stock.
About General Dynamics
(
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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