New York State Common Retirement Fund Sells 55,300 Shares of General Dynamics Corporation (NYSE:GD)

New York State Common Retirement Fund decreased its position in General Dynamics Corporation (NYSE:GD - Free Report) by 13.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,536 shares of the aerospace company's stock after selling 55,300 shares during the quarter. New York State Common Retirement Fund owned 0.13% of General Dynamics worth $95,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. lifted its position in General Dynamics by 0.5% in the first quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock valued at $2,161,000 after purchasing an additional 37 shares during the last quarter. Sharpepoint LLC lifted its position in General Dynamics by 4.2% in the first quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock valued at $249,000 after purchasing an additional 37 shares during the last quarter. 1858 Wealth Management LLC raised its holdings in shares of General Dynamics by 1.2% during the first quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock valued at $879,000 after acquiring an additional 38 shares in the last quarter. Keystone Financial Services raised its holdings in shares of General Dynamics by 1.6% during the first quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock valued at $660,000 after acquiring an additional 38 shares in the last quarter. Finally, Pure Financial Advisors LLC raised its holdings in shares of General Dynamics by 0.7% during the first quarter. Pure Financial Advisors LLC now owns 6,025 shares of the aerospace company's stock valued at $1,642,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 7,639 shares of General Dynamics 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 directly owned 769,607 shares in the company, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. TD Cowen upped 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. TD Securities upped their target price on General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Susquehanna upped their target price on General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and upped their target price for the company from $298.00 to $342.00 in a report on Tuesday, July 8th. Finally, Wells Fargo & Company decreased their target price on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, General Dynamics presently has a consensus rating of "Hold" and an average target price of $294.47.

General Dynamics Price Performance

Shares of NYSE:GD opened at $302.20 on Monday. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year 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 business has a fifty day moving average price of $281.48 and a 200-day moving average price of $269.33. The company has a market capitalization of $81.11 billion, a PE ratio of 20.96, a PEG ratio of 2.01 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. During the same period last year, the company earned $2.88 earnings per share. The company's revenue was up 13.9% on a year-over-year basis. As a group, equities analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 1.99%. General Dynamics's payout ratio is 41.61%.

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.

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