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Robertson Stephens Wealth Management LLC cut its holdings in General Dynamics Corporation (NYSE:GD – Free Report) by 9.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 765 shares of the aerospace company’s stock after selling 76 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in General Dynamics were worth $209,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of General Dynamics by 34,578.2% in the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company’s stock worth $339,253,000 after purchasing an additional 1,241,011 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of General Dynamics in the fourth quarter valued at $279,582,000. Raymond James Financial Inc. bought a new position in shares of General Dynamics in the fourth quarter valued at $197,238,000. Vanguard Group Inc. lifted its position in shares of General Dynamics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock valued at $6,265,813,000 after acquiring an additional 706,317 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of General Dynamics by 7.4% during the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company’s stock worth $1,774,381,000 after acquiring an additional 463,497 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Phebe N. Novakovic sold 178,821 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $283.13, for a total value of $50,629,589.73. Following the completion of the sale, the chief executive officer now directly owns 769,607 shares in the company, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.50% of the stock is currently owned by corporate insiders.
General Dynamics Trading Down 1.0%
Shares of NYSE:GD opened at $278.35 on Friday. The firm has a fifty day moving average of $275.55 and a two-hundred day moving average of $266.58. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $316.90. The firm has a market capitalization of $74.71 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 1.87 and a beta of 0.46.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.92 billion. During the same quarter last year, the firm earned $2.88 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.
General Dynamics Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 2.16%. General Dynamics’s payout ratio is 41.61%.
Analyst Upgrades and Downgrades
GD has been the topic of a number of recent analyst reports. TD Securities boosted their target price on General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Cowen reissued a “buy” rating on shares of General Dynamics in a research note on Thursday, April 24th. Citigroup cut their price objective on General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Argus set a $295.00 target price on shares of General Dynamics in a report on Tuesday, May 6th. Finally, Morgan Stanley dropped their target price on shares of 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. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics currently has a consensus rating of “Hold” and a consensus price target of $293.00.
View Our Latest Stock Report on GD
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.
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