Mutual of America Capital Management LLC Sells 1,403 Shares of General Dynamics Corporation (NYSE:GD)

Mutual of America Capital Management LLC trimmed its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,467 shares of the aerospace company's stock after selling 1,403 shares during the quarter. Mutual of America Capital Management LLC's holdings in General Dynamics were worth $8,032,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in General Dynamics by 34,578.2% in the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock worth $339,253,000 after buying an additional 1,241,011 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in General Dynamics in the 4th quarter worth approximately $279,582,000. Capital Research Global Investors raised its stake in 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 buying an additional 463,497 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of General Dynamics by 6,387.2% during the 4th quarter. Voloridge Investment Management LLC now owns 401,236 shares of the aerospace company's stock valued at $105,722,000 after buying an additional 395,051 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in shares of General Dynamics by 24.3% in the 4th quarter. Hsbc Holdings PLC now owns 1,290,344 shares of the aerospace company's stock worth $339,856,000 after buying an additional 252,107 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

GD traded up $1.25 during trading hours on Friday, hitting $313.98. The company's stock had a trading volume of 1,157,284 shares, compared to its average volume of 1,473,091. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $322.50. The business's 50-day moving average price is $294.07 and its 200-day moving average price is $275.16. The stock has a market cap of $84.46 billion, a price-to-earnings ratio of 21.07, a P/E/G ratio of 1.93 and a beta of 0.48.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. During the same period in the previous year, the firm earned $3.26 earnings per share. General Dynamics's quarterly revenue was up 8.9% compared to the same quarter last year. Sell-side analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is currently 40.27%.

Analysts Set New Price Targets

GD has been the subject of a number of research reports. Robert W. Baird increased their target price on General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley reduced their price target on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. UBS Group boosted their target price on shares of General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. TD Securities lifted their price target 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, Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the stock a "market perform" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $315.78.

Insider Buying and Selling

In other General Dynamics news, Director Leon Rudy F. De sold 5,490 shares of General Dynamics stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the completion of the sale, the director directly owned 5,483 shares of the company's stock, valued at $1,715,137.23. The trade was a 50.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $283.13, for a total value of $50,629,589.73. Following the completion of the sale, the chief executive officer owned 769,607 shares of the company's stock, valued at $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 268,370 shares of company stock valued at $78,408,011 in the last 90 days. Company insiders own 1.50% of the company's stock.

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.