General Dynamics Corporation $GD Stock Holdings Lessened by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in shares of General Dynamics Corporation (NYSE:GD) by 7.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 590,514 shares of the aerospace company’s stock after selling 48,329 shares during the quarter. California Public Employees Retirement System’s holdings in General Dynamics were worth $202,676,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GD. KERR FINANCIAL PLANNING Corp purchased a new stake in General Dynamics in the 3rd quarter worth approximately $25,000. Dagco Inc. purchased a new position in shares of General Dynamics during the 4th quarter valued at $25,000. Whipplewood Advisors LLC increased its stake in shares of General Dynamics by 1,725.0% in the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 69 shares during the last quarter. Steph & Co. increased its stake in shares of General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 30 shares during the last quarter. Finally, Center for Financial Planning Inc. raised its holdings in shares of General Dynamics by 220.7% during the fourth quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 64 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of NYSE:GD opened at $368.91 on Friday. General Dynamics Corporation has a fifty-two week low of $293.95 and a fifty-two week high of $380.71. The business has a 50-day moving average of $352.73 and a two-hundred day moving average of $350.49. The stock has a market capitalization of $99.76 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.22 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the prior year, the firm posted $3.66 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts predict that General Dynamics Corporation will post 16.64 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business 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 dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio (DPR) is 40.03%.

Analyst Ratings Changes

A number of analysts recently issued reports on GD shares. Morgan Stanley lifted their price objective on General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. DA Davidson cut their price target on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. BNP Paribas Exane reduced their price target on General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Wells Fargo & Company initiated coverage on shares of General Dynamics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price objective on the stock. Finally, Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $391.15.

Insider Buying and Selling

In related news, Director Mark Malcolm sold 5,480 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director directly owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This represents a 33.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 78,190 shares of company stock worth $27,041,022. Insiders own 1.40% of the company’s stock.

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.