General Dynamics Co. (NYSE:GD) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC decreased its holdings in shares of General Dynamics Co. (NYSE:GD - Free Report) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,013,581 shares of the aerospace company's stock after selling 80,228 shares during the quarter. Nuveen Asset Management LLC owned about 0.37% of General Dynamics worth $267,069,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GD. Purus Wealth Management LLC grew its position in shares of General Dynamics by 1.5% in the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company's stock valued at $701,000 after purchasing an additional 39 shares during the last quarter. Armstrong Advisory Group Inc. raised its position in shares of General Dynamics by 4.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,051 shares of the aerospace company's stock worth $277,000 after purchasing an additional 40 shares during the last quarter. Austin Wealth Management LLC lifted its stake in General Dynamics by 5.4% in the 4th quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company's stock valued at $220,000 after buying an additional 42 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in General Dynamics by 35.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company's stock valued at $43,000 after buying an additional 43 shares during the last quarter. Finally, Stokes Family Office LLC increased its position in General Dynamics by 0.4% during the fourth quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company's stock worth $2,708,000 after buying an additional 43 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Trading Up 0.3%

NYSE GD traded up $0.78 during mid-day trading on Tuesday, hitting $282.15. The company's stock had a trading volume of 142,832 shares, compared to its average volume of 1,628,723. The firm has a market capitalization of $75.73 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 1.69 and a beta of 0.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a 52-week low of $239.20 and a 52-week high of $316.90. The stock's fifty day simple moving average is $270.12 and its two-hundred day simple moving average is $268.57.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter last year, the firm posted $2.88 EPS. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. Research analysts expect that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 11th were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, April 11th. This is a boost from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's payout ratio is currently 41.61%.

Insider Activity

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares of the company's stock, valued at $12,297,195.12. This represents a 37.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GD. Royal Bank of Canada reduced their price objective on 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. BTIG Research downgraded shares of General Dynamics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 13th. Citigroup reduced their target price on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. TD Cowen lowered their price target on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Finally, Argus set a $295.00 price objective on shares of General Dynamics in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $293.00.

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.