Red Cedar Investment Management LLC Has $1.36 Million Stock Holdings in General Dynamics Corporation (NYSE:GD)

Red Cedar Investment Management LLC decreased its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,980 shares of the aerospace company's stock after selling 3,096 shares during the quarter. Red Cedar Investment Management LLC's holdings in General Dynamics were worth $1,357,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GD. Rialto Wealth Management LLC raised its stake in shares of 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 period. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics during the 1st quarter valued at $26,000. Whipplewood Advisors LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at $26,000. Finally, Copia Wealth Management purchased a new position in shares of General Dynamics during the 4th quarter valued at $27,000. Institutional investors own 86.14% of the company's stock.

Wall Street Analyst Weigh In

GD has been the subject of a number of research reports. Wells Fargo & Company cut their price objective 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. UBS Group upped their price target on shares of General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Susquehanna upped their price target on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research report on Wednesday, April 2nd. TD Cowen upped their price target on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, General Dynamics has an average rating of "Hold" and an average target price of $290.24.

General Dynamics Stock Performance

Shares of NYSE GD traded down $0.60 during midday trading on Wednesday, reaching $293.78. 476,502 shares of the company traded hands, compared to its average volume of 1,393,526. The stock has a 50-day moving average price of $277.32 and a 200 day moving average price of $267.48. The company has a market cap of $78.85 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.96 and a beta of 0.46. 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 current ratio of 1.34 and a quick ratio of 0.82.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates 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 for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.88 EPS. Sell-side analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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 issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) is currently 41.61%.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $217,898,829.91. The trade was a 18.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.