Westwood Holdings Group Inc. Lowers Holdings in General Dynamics Corporation (NYSE:GD)

Key Points

• Westwood Holdings Group Inc. reduced its stake in General Dynamics Corporation by 26.2% after selling 99,993 shares, leaving them with 281,745 shares valued at approximately $76.8 million.
• Analysts have mixed views on General Dynamics, with price targets ranging from $236 to $365, and a consensus rating of "Hold".
• The company recently announced a quarterly dividend of $1.50 per share, reflecting an annualized yield of 1.9% and a payout ratio of 40.27%.

Westwood Holdings Group Inc. lessened its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 26.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 281,745 shares of the aerospace company's stock after selling 99,993 shares during the period. Westwood Holdings Group Inc. owned 0.10% of General Dynamics worth $76,798,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC lifted its holdings 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 last quarter. Inlight Wealth Management LLC purchased a new stake in shares of General Dynamics during the 1st quarter valued at $26,000. Copia Wealth Management acquired a new stake in General Dynamics in the 4th quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in General Dynamics in the 1st quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in General Dynamics in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Trading Up 0.4%

Shares of GD traded up $1.36 during mid-day trading on Wednesday, reaching $315.12. The stock had a trading volume of 893,398 shares, compared to its average volume of 1,295,592. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The firm has a market cap of $84.76 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 1.92 and a beta of 0.48. The business's fifty day moving average is $292.49 and its 200 day moving average is $274.57. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $322.50.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.27. The company had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. General Dynamics's revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.26 earnings per share. On average, sell-side analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. General Dynamics's dividend payout ratio is presently 40.27%.

Analyst Ratings Changes

GD has been the subject of a number of recent analyst reports. TD Securities lifted their target price on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Susquehanna lifted their target price on shares of General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and lifted their target price for the stock from $298.00 to $342.00 in a research note on Tuesday, July 8th. UBS Group lifted their price objective on shares of General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Cowen restated a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $315.78.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 43,860 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the sale, the executive vice president owned 39,875 shares of the company's stock, valued at approximately $12,452,165. This represents a 52.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leon Rudy F. De sold 5,490 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the completion of the sale, the director directly owned 5,483 shares in the company, valued at approximately $1,715,137.23. This trade represents a 50.03% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 268,370 shares of company stock valued at $78,408,011. 1.50% of the stock is currently owned by corporate insiders.

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.