General Dynamics Co. (GD) Shares Sold by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 44.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,242,426 shares of the aerospace company’s stock after selling 983,786 shares during the period. TIAA CREF Investment Management LLC’s holdings in General Dynamics were worth $252,772,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of GD. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of General Dynamics by 2,097.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,711,597 shares of the aerospace company’s stock valued at $353,351,000 after purchasing an additional 1,633,700 shares during the period. American Century Companies Inc. increased its holdings in shares of General Dynamics by 9,395.8% during the fourth quarter. American Century Companies Inc. now owns 452,570 shares of the aerospace company’s stock valued at $92,075,000 after purchasing an additional 447,804 shares during the period. Renaissance Technologies LLC increased its holdings in shares of General Dynamics by 119.3% during the fourth quarter. Renaissance Technologies LLC now owns 703,800 shares of the aerospace company’s stock valued at $143,188,000 after purchasing an additional 382,883 shares during the period. Alyeska Investment Group L.P. increased its holdings in shares of General Dynamics by 82.6% during the third quarter. Alyeska Investment Group L.P. now owns 697,511 shares of the aerospace company’s stock valued at $143,394,000 after purchasing an additional 315,512 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of General Dynamics by 6.1% during the third quarter. Janus Henderson Group PLC now owns 5,302,868 shares of the aerospace company’s stock valued at $1,090,164,000 after purchasing an additional 304,175 shares during the period. 93.41% of the stock is currently owned by institutional investors.
In related news, insider John Patrick Casey sold 9,304 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $215.29, for a total value of $2,003,058.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider S. Daniel Johnson sold 3,933 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $228.79, for a total value of $899,831.07. Following the completion of the transaction, the insider now owns 66,363 shares of the company’s stock, valued at approximately $15,183,190.77. The disclosure for this sale can be found here. Insiders sold a total of 30,357 shares of company stock valued at $6,715,463 in the last quarter. 6.70% of the stock is currently owned by corporate insiders.
General Dynamics Co. (NYSE GD) opened at $223.35 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.40 and a quick ratio of 0.99. General Dynamics Co. has a 1 year low of $183.72 and a 1 year high of $230.00. The firm has a market capitalization of $66,703.16, a price-to-earnings ratio of 23.39, a P/E/G ratio of 2.38 and a beta of 0.83.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.13. General Dynamics had a return on equity of 27.22% and a net margin of 9.40%. The business had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.40 billion. During the same quarter last year, the company posted $1.89 EPS. General Dynamics’s revenue for the quarter was up 8.1% on a year-over-year basis. research analysts expect that General Dynamics Co. will post 11.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Friday, April 13th will be given a $0.93 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.67%. General Dynamics’s dividend payout ratio (DPR) is 35.18%.
General Dynamics Company Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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