General Dynamics Corporation (NYSE:GD) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 13.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,357 shares of the aerospace company's stock after selling 1,627 shares during the quarter. Illinois Municipal Retirement Fund's holdings in General Dynamics were worth $2,823,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Transcend Capital Advisors LLC boosted its holdings in General Dynamics by 5.3% in the 1st quarter. Transcend Capital Advisors LLC now owns 8,439 shares of the aerospace company's stock worth $2,300,000 after buying an additional 423 shares during the last quarter. Diversified Trust Co boosted its stake in shares of General Dynamics by 94.6% in the first quarter. Diversified Trust Co now owns 4,322 shares of the aerospace company's stock worth $1,178,000 after acquiring an additional 2,101 shares during the last quarter. Park Place Capital Corp increased its position in shares of General Dynamics by 1.7% during the first quarter. Park Place Capital Corp now owns 2,730 shares of the aerospace company's stock worth $744,000 after purchasing an additional 46 shares in the last quarter. Total Wealth Planning & Management Inc. acquired a new position in General Dynamics in the 1st quarter valued at $459,000. Finally, Tranquility Partners LLC raised its stake in General Dynamics by 7.8% in the 1st quarter. Tranquility Partners LLC now owns 1,061 shares of the aerospace company's stock valued at $289,000 after purchasing an additional 77 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Down 0.2%

NYSE GD opened at $290.83 on Monday. 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 has a market capitalization of $78.06 billion, a P/E ratio of 20.17, a PEG ratio of 1.96 and a beta of 0.46. The firm's 50-day moving average is $276.55 and its two-hundred day moving average is $267.09. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data 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 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%. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.88 EPS. On average, sell-side analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 2.06%. General Dynamics's dividend payout ratio is currently 41.61%.

Insider Activity at General Dynamics

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the firm's 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 completion of the transaction, the chief executive officer now owns 769,607 shares of the company's stock, valued at approximately $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 the SEC website. Company insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GD shares. Susquehanna upped 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. TD Cowen boosted their price target on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Wednesday. TD Securities raised their target price 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. Finally, Argus set a $295.00 price target on General Dynamics in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $290.24.

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.

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