Gotham Asset Management LLC Raises Stock Holdings in General Dynamics Co. (NYSE:GD)

Gotham Asset Management LLC raised its holdings in shares of General Dynamics Co. (NYSE:GD - Free Report) by 211.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,558 shares of the aerospace company's stock after purchasing an additional 77,797 shares during the period. General Dynamics accounts for 0.3% of Gotham Asset Management LLC's portfolio, making the stock its 23rd largest position. Gotham Asset Management LLC's holdings in General Dynamics were worth $30,185,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GD. Financial Life Planners bought a new stake in General Dynamics in the fourth quarter worth about $25,000. Whipplewood Advisors LLC bought a new stake in General Dynamics during the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in General Dynamics during the fourth quarter valued at about $26,000. Heck Capital Advisors LLC bought a new stake in General Dynamics during the fourth quarter valued at about $28,000. Finally, Hoey Investments Inc. acquired a new position in General Dynamics during the 4th quarter valued at about $28,000. 86.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares in the company, valued at approximately $12,297,195.12. This trade represents a 37.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GD has been the topic of several analyst reports. Morgan Stanley cut their price target on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Argus set a $295.00 target price on shares of General Dynamics in a research note on Tuesday, May 6th. Royal Bank of Canada lowered their price target on shares of General Dynamics from $290.00 to $280.00 and set a "sector perform" rating on the stock in a research report on Thursday, January 30th. Barclays reduced their price objective on General Dynamics from $305.00 to $285.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $293.00.

General Dynamics Price Performance

Shares of GD traded up $0.35 during mid-day trading on Tuesday, reaching $276.59. The company had a trading volume of 99,030 shares, compared to its average volume of 1,364,493. General Dynamics Co. 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 1.37. The company has a market capitalization of $74.24 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.69 and a beta of 0.49. The company's 50 day simple moving average is $269.09 and its 200 day simple moving average is $269.32.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data 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 net margin of 7.93% and a return on equity of 17.10%. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. During the same quarter in the previous year, the business posted $2.88 EPS. General Dynamics's revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts expect that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 11th were given a dividend of $1.50 per share. This is an increase from General Dynamics's previous quarterly dividend of $1.42. The ex-dividend date was Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a yield of 2.17%. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

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.