Strs Ohio Lowers Stake in General Dynamics Corporation $GD

Strs Ohio cut its stake in General Dynamics Corporation (NYSE:GD) by 4.6% in the 1st quarter, Holdings Channel reports. The fund owned 69,228 shares of the aerospace company’s stock after selling 3,336 shares during the quarter. Strs Ohio’s holdings in General Dynamics were worth $23,760,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GD. KERR FINANCIAL PLANNING Corp bought a new stake in General Dynamics during the third quarter worth about $25,000. Dagco Inc. bought a new position in shares of General Dynamics during the 4th quarter valued at about $25,000. Burkett Financial Services LLC raised its holdings in shares of General Dynamics by 650.0% during the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after buying an additional 65 shares in the last quarter. Steph & Co. lifted its position in General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after buying an additional 30 shares during the last quarter. Finally, Center for Financial Planning Inc. lifted its position in General Dynamics by 220.7% in the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock worth $31,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.1%

Shares of General Dynamics stock opened at $373.34 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. General Dynamics Corporation has a 52-week low of $292.34 and a 52-week high of $373.60. The company’s 50 day moving average price is $344.97 and its 200-day moving average price is $348.35. The stock has a market capitalization of $100.96 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 2.31 and a beta of 0.34.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.66 EPS. Equities research analysts forecast that General Dynamics Corporation will post 16.63 EPS for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio is 40.03%.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the sale, the director directly owned 10,643 shares in the company, valued at $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 78,190 shares of company stock valued at $27,041,022. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $385.00 target price on shares of General Dynamics in a report on Thursday, April 30th. DA Davidson decreased their target price on shares of General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Finally, Citigroup lowered their price target on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $388.40.

General Dynamics Company 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.