Shell Asset Management Co. Purchases 2,722 Shares of General Dynamics Co. (GD)

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Shell Asset Management Co. raised its position in shares of General Dynamics Co. (NYSE:GD) by 9.8% in the first quarter, HoldingsChannel reports. The firm owned 30,538 shares of the aerospace company’s stock after buying an additional 2,722 shares during the period. Shell Asset Management Co.’s holdings in General Dynamics were worth $5,169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new position in shares of General Dynamics during the 4th quarter valued at about $25,000. We Are One Seven LLC acquired a new position in shares of General Dynamics during the 4th quarter valued at about $27,000. Harvest Group Wealth Management LLC acquired a new position in shares of General Dynamics during the 1st quarter valued at about $28,000. Aspire Private Capital LLC acquired a new position in shares of General Dynamics during the 4th quarter valued at about $29,000. Finally, CX Institutional acquired a new position in shares of General Dynamics during the 1st quarter valued at about $45,000. 85.68% of the stock is owned by institutional investors.

Shares of NYSE:GD opened at $164.03 on Friday. General Dynamics Co. has a 1-year low of $143.87 and a 1-year high of $208.88. The company has a market cap of $47.38 billion, a PE ratio of 14.36, a PEG ratio of 1.64 and a beta of 1.13. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 0.94.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.18. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. The company had revenue of $9.26 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the firm earned $2.65 EPS. General Dynamics’s revenue for the quarter was up 22.9% compared to the same quarter last year. Research analysts expect that General Dynamics Co. will post 11.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 12th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.

A number of research analysts have recently commented on the company. Zacks Investment Research lowered General Dynamics from a “buy” rating to a “hold” rating in a report on Friday, May 17th. UBS Group increased their price objective on General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Sanford C. Bernstein lowered their price objective on General Dynamics from $186.00 to $178.00 and set a “market perform” rating on the stock in a report on Monday, February 4th. Cowen reissued a “buy” rating and set a $202.00 price objective on shares of General Dynamics in a report on Wednesday, April 24th. Finally, Goldman Sachs Group raised General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 target price on the stock in a report on Sunday, May 19th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $198.16.

In other news, EVP John Patrick Casey sold 45,470 shares of General Dynamics stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $172.46, for a total transaction of $7,841,756.20. Following the sale, the executive vice president now owns 148,133 shares of the company’s stock, valued at approximately $25,547,017.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gary L. Whited sold 14,640 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $165.38, for a total value of $2,421,163.20. Following the transaction, the vice president now owns 30,462 shares of the company’s stock, valued at approximately $5,037,805.56. The disclosure for this sale can be found here. 7.10% of the stock is currently owned by company insiders.

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General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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