Olstein Capital Management L.P. Buys 4,500 Shares of General Dynamics Co. (NYSE:GD)

Olstein Capital Management L.P. increased its position in General Dynamics Co. (NYSE:GD - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,000 shares of the aerospace company's stock after buying an additional 4,500 shares during the period. General Dynamics accounts for approximately 1.7% of Olstein Capital Management L.P.'s investment portfolio, making the stock its 13th biggest holding. Olstein Capital Management L.P.'s holdings in General Dynamics were worth $8,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC boosted its stake in 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 purchasing an additional 62 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of General Dynamics during the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in General Dynamics during the fourth quarter worth $26,000. Copia Wealth Management bought a new position in General Dynamics during the 4th quarter valued at $27,000. Finally, Hoey Investments Inc. bought a new position in General Dynamics during the 4th quarter valued at $28,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Up 0.7%

General Dynamics stock opened at $276.43 on Monday. The firm has a 50 day simple moving average of $272.69 and a 200 day simple moving average of $266.53. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 1-year low of $239.20 and a 1-year high of $316.90. The firm has a market capitalization of $74.19 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.69 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last announced 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 17.10% and a net margin of 7.93%. The company had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. During the same period in the previous year, the business earned $2.88 earnings per share. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. On average, analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 2.17%. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

Analyst Ratings Changes

Several analysts have recently commented on GD shares. TD Securities increased their target price on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Morgan Stanley cut their target price on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Argus set a $295.00 price target on General Dynamics in a research report on Tuesday, May 6th. BTIG Research cut General Dynamics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 13th. Finally, William Blair lowered General Dynamics from an "outperform" rating to a "market perform" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, General Dynamics currently has a consensus rating of "Hold" and an average price target of $293.00.

About General Dynamics

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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