Jones Financial Companies Lllp lessened its position in General Dynamics Co. (NYSE:GD) by 10.2% in the first quarter, HoldingsChannel.com reports. The fund owned 9,922 shares of the aerospace company’s stock after selling 1,129 shares during the quarter. Jones Financial Companies Lllp’s holdings in General Dynamics were worth $1,680,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Man Group plc grew its holdings in General Dynamics by 31.7% in the third quarter. Man Group plc now owns 1,712 shares of the aerospace company’s stock valued at $351,000 after purchasing an additional 412 shares during the period. Legal & General Group Plc grew its holdings in General Dynamics by 1.2% in the third quarter. Legal & General Group Plc now owns 1,076,274 shares of the aerospace company’s stock valued at $220,296,000 after purchasing an additional 13,119 shares during the period. Morgan Stanley grew its holdings in General Dynamics by 1.7% in the third quarter. Morgan Stanley now owns 916,988 shares of the aerospace company’s stock valued at $187,727,000 after purchasing an additional 15,746 shares during the period. Vanguard Group Inc grew its holdings in General Dynamics by 1.7% in the third quarter. Vanguard Group Inc now owns 20,905,951 shares of the aerospace company’s stock valued at $4,279,866,000 after purchasing an additional 357,032 shares during the period. Finally, Moody National Bank Trust Division grew its holdings in General Dynamics by 120.0% in the fourth quarter. Moody National Bank Trust Division now owns 363 shares of the aerospace company’s stock valued at $57,000 after purchasing an additional 198 shares during the period. 87.16% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP John Patrick Casey sold 45,470 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $172.46, for a total transaction of $7,841,756.20. Following the transaction, the executive vice president now directly owns 148,133 shares of the company’s stock, valued at $25,547,017.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Gary L. Whited sold 14,640 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the transaction, the vice president now directly owns 30,462 shares in the company, valued at $5,037,805.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,690 shares of company stock worth $11,052,603. Corporate insiders own 7.10% of the company’s stock.
GD opened at $173.08 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. General Dynamics Co. has a 52-week low of $143.87 and a 52-week high of $208.88. The company has a market cap of $49.70 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.65 and a beta of 1.13.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The company had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the previous year, the firm earned $2.65 earnings per share. General Dynamics’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, research analysts predict that General Dynamics Co. will post 11.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 12th were given a dividend of $1.02 per share. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Thursday, April 11th. General Dynamics’s payout ratio is presently 35.73%.
GD has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. Cowen restated a “buy” rating on shares of General Dynamics in a report on Wednesday, March 6th. Citigroup lowered their target price on shares of General Dynamics from $195.00 to $175.00 and set a “neutral” rating for the company in a report on Monday, January 14th. Credit Suisse Group restated a “buy” rating and issued a $190.00 target price on shares of General Dynamics in a report on Monday, January 14th. Finally, Argus downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price objective for the company. in a research note on Thursday, January 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $198.29.
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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