Price T Rowe Associates Inc. MD Reduces Holdings in General Dynamics Co. (NYSE:GD)

Price T Rowe Associates Inc. MD lowered its stake in General Dynamics Co. (NYSE:GD - Free Report) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,586,158 shares of the aerospace company's stock after selling 154,947 shares during the period. Price T Rowe Associates Inc. MD owned about 1.30% of General Dynamics worth $944,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in GD. Financial Life Planners purchased a new position in General Dynamics during the 4th quarter worth approximately $25,000. Whipplewood Advisors LLC purchased a new position in General Dynamics during the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Dynamics during the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC purchased a new position in General Dynamics during the 4th quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC purchased a new position in General Dynamics during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Insiders Place Their Bets

In related news, Director Laura J. Schumacher sold 1,796 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the transaction, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. The trade was a 37.88 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

General Dynamics Price Performance

Shares of NYSE GD traded down $0.26 during trading on Tuesday, reaching $271.68. The company had a trading volume of 327,260 shares, compared to its average volume of 1,357,975. The stock has a market capitalization of $72.92 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43. The stock has a 50-day moving average price of $264.77 and a two-hundred day moving average price of $271.58. General Dynamics Co. has a twelve month low of $239.20 and a twelve month high of $316.90. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $11.92 billion. During the same period last year, the company earned $2.88 EPS. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, sell-side analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.50 per share. This is a boost from General Dynamics's previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, April 11th. General Dynamics's dividend payout ratio (DPR) is currently 41.61%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $303.00 to $295.00 and set a "hold" rating on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada lowered their target price on General Dynamics from $290.00 to $280.00 and set a "sector perform" rating on the stock in a research note on Thursday, January 30th. Baird R W downgraded General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Cowen reiterated a "buy" rating on shares of General Dynamics in a research note on Thursday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $293.83.

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.