General Dynamics Corporation $GD Shares Sold by Strs Ohio

Strs Ohio cut its stake in shares of General Dynamics Corporation (NYSE:GD) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,572 shares of the aerospace company’s stock after selling 2,095 shares during the period. Strs Ohio’s holdings in General Dynamics were worth $20,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GD. Atlas Legacy Advisors LLC increased its holdings in shares of General Dynamics by 8.9% in the third quarter. Atlas Legacy Advisors LLC now owns 2,290 shares of the aerospace company’s stock valued at $781,000 after purchasing an additional 187 shares during the period. New Wave Wealth Advisors LLC purchased a new position in General Dynamics in the 3rd quarter valued at $239,000. Leelyn Smith LLC increased its stake in General Dynamics by 0.7% in the 3rd quarter. Leelyn Smith LLC now owns 17,388 shares of the aerospace company’s stock valued at $5,929,000 after buying an additional 119 shares during the period. Charter Oak Capital Management LLC acquired a new stake in shares of General Dynamics in the 3rd quarter worth $206,000. Finally, Stock Yards Bank & Trust Co. boosted its holdings in shares of General Dynamics by 3.5% in the third quarter. Stock Yards Bank & Trust Co. now owns 2,201 shares of the aerospace company’s stock valued at $751,000 after acquiring an additional 75 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Dynamics

In other General Dynamics news, VP David Paddock sold 20,360 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $334.92, for a total value of $6,818,971.20. Following the sale, the vice president owned 36,644 shares of the company’s stock, valued at $12,272,808.48. This represents a 35.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

General Dynamics Stock Performance

NYSE GD opened at $363.60 on Friday. The business has a 50 day moving average price of $346.14 and a 200 day moving average price of $333.05. The company has a market capitalization of $98.22 billion, a P/E ratio of 23.56, a PEG ratio of 1.79 and a beta of 0.41. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $369.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87.

General Dynamics (NYSE:GD) last posted its earnings results on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.19. General Dynamics had a return on equity of 18.27% and a net margin of 8.18%.The company had revenue of $12.91 billion for the quarter, compared to analyst estimates of $12.49 billion. During the same quarter in the prior year, the company earned $3.35 earnings per share. General Dynamics’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 16th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, January 16th. General Dynamics’s dividend payout ratio (DPR) is 38.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GD shares. TD Cowen raised their price objective on shares of General Dynamics from $370.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. UBS Group raised their price target on General Dynamics from $381.00 to $388.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Robert W. Baird set a $390.00 price objective on General Dynamics in a report on Monday, October 27th. BNP Paribas Exane increased their price objective on General Dynamics from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Finally, Vertical Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $366.70.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.