Resona Asset Management Co. Ltd. Has $27.08 Million Position in General Dynamics Corporation $GD

Resona Asset Management Co. Ltd. reduced its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,243 shares of the aerospace company's stock after selling 3,415 shares during the period. Resona Asset Management Co. Ltd.'s holdings in General Dynamics were worth $27,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Joule Financial LLC grew its stake in shares of General Dynamics by 4.3% in the 4th quarter. Joule Financial LLC now owns 705 shares of the aerospace company's stock valued at $237,000 after purchasing an additional 29 shares during the period. Brown Miller Wealth Management LLC grew its stake in shares of General Dynamics by 0.3% in the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company's stock valued at $2,993,000 after purchasing an additional 29 shares during the period. First Financial Bankshares Inc grew its stake in shares of General Dynamics by 2.6% in the 3rd quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company's stock valued at $408,000 after purchasing an additional 30 shares during the period. Steph & Co. grew its stake in shares of General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 30 shares during the period. Finally, Revolve Wealth Partners LLC boosted its stake in shares of General Dynamics by 3.3% in the 4th quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company's stock valued at $329,000 after purchasing an additional 31 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. UBS Group reduced their target price on shares of General Dynamics from $385.00 to $371.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on shares of General Dynamics from $385.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Dynamics from $387.00 to $377.00 and set a "hold" rating on the stock in a research note on Wednesday, May 6th. Wall Street Zen raised General Dynamics from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 10th. Finally, Citigroup reduced their target price on General Dynamics from $380.00 to $364.00 and set a "neutral" rating on the stock in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $387.40.

General Dynamics Stock Performance

General Dynamics stock opened at $340.13 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 1 year low of $268.10 and a 1 year high of $369.70. The company has a market cap of $91.98 billion, a PE ratio of 21.41, a PEG ratio of 2.13 and a beta of 0.34. The company's 50-day moving average is $342.75 and its two-hundred day moving average is $346.58.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.67 by $0.43. The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. General Dynamics's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the company posted $3.66 EPS. Equities analysts anticipate that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were paid a $1.59 dividend. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. This is a positive change from General Dynamics's previous quarterly dividend of $1.50. General Dynamics's dividend payout ratio (DPR) is 40.03%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 3,819 shares of General Dynamics stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total value of $1,350,016.50. Following the sale, the executive vice president owned 44,767 shares of the company's stock, valued at $15,825,134.50. This trade represents a 7.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. This represents a 48.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 119,600 shares of company stock valued at $41,650,580 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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