General Dynamics Corporation $GD Stock Holdings Reduced by Cullen Capital Management LLC

Cullen Capital Management LLC lowered its position in General Dynamics Corporation (NYSE:GD) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 695,181 shares of the aerospace company’s stock after selling 25,835 shares during the quarter. General Dynamics makes up approximately 2.6% of Cullen Capital Management LLC’s holdings, making the stock its 10th largest holding. Cullen Capital Management LLC’s holdings in General Dynamics were worth $234,040,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GD. Brighton Jones LLC grew its stake in General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock valued at $760,000 after purchasing an additional 417 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of General Dynamics by 140.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock worth $938,000 after acquiring an additional 2,011 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of General Dynamics during the 2nd quarter worth about $240,000. Flow Traders U.S. LLC bought a new stake in shares of General Dynamics during the 2nd quarter worth about $352,000. Finally, Jump Financial LLC bought a new stake in shares of General Dynamics during the 2nd quarter worth about $1,284,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

NYSE GD opened at $359.92 on Friday. General Dynamics Corporation has a twelve month low of $275.49 and a twelve month high of $369.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The stock has a market capitalization of $97.33 billion, a PE ratio of 22.65, a P/E/G ratio of 2.23 and a beta of 0.34. The stock has a 50-day simple moving average of $340.32 and a 200 day simple moving average of $346.59.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. During the same quarter in the previous year, the firm earned $3.66 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. Research analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a $1.59 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.8%. General Dynamics’s dividend payout ratio is 40.03%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GD. Wells Fargo & Company began coverage on General Dynamics in a research note on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price target for the company. Weiss Ratings downgraded General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. upped their price target on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Citigroup decreased their price target on General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Finally, Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and upped their price target for the stock from $380.00 to $400.00 in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $388.40.

Insider Buying and Selling

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This represents a 48.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by company insiders.

General Dynamics Profile

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.