Teacher Retirement System of Texas Sells 19,089 Shares of General Dynamics Corporation (NYSE:GD)

Teacher Retirement System of Texas lowered its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,201 shares of the aerospace company's stock after selling 19,089 shares during the period. Teacher Retirement System of Texas' holdings in General Dynamics were worth $26,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. 1858 Wealth Management LLC grew its stake in shares of General Dynamics by 1.2% in the 1st quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock worth $879,000 after acquiring an additional 38 shares in the last quarter. Keystone Financial Services grew its stake in shares of General Dynamics by 1.6% during the 1st quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock worth $660,000 after acquiring an additional 38 shares during the period. Pure Financial Advisors LLC increased its holdings in General Dynamics by 0.7% in the 1st quarter. Pure Financial Advisors LLC now owns 6,025 shares of the aerospace company's stock worth $1,642,000 after acquiring an additional 39 shares during the last quarter. Thrive Wealth Management LLC lifted its holdings in General Dynamics by 2.1% during the first quarter. Thrive Wealth Management LLC now owns 2,002 shares of the aerospace company's stock valued at $546,000 after purchasing an additional 41 shares during the last quarter. Finally, Austin Wealth Management LLC boosted its position in General Dynamics by 5.4% during the fourth quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company's stock worth $220,000 after purchasing an additional 42 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Price Performance

GD traded up $0.08 during midday trading on Friday, hitting $294.00. The stock had a trading volume of 646,635 shares, compared to its average volume of 1,395,994. 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 quick ratio of 0.82 and a current ratio of 1.34. The business has a fifty day moving average of $278.32 and a 200 day moving average of $267.85. The company has a market cap of $78.91 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 1.98 and a beta of 0.46.

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

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 2.04%. General Dynamics's dividend payout ratio is currently 41.61%.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at $215,828,587.08. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

GD has been the topic of a number of recent research reports. Citigroup dropped their price target on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. TD Cowen increased their target price on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. UBS Group lifted their price target on General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. TD Securities increased their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Argus set a $295.00 target price on General Dynamics in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $290.24.

General Dynamics 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.