General Dynamics Co. (NYSE:GD) Position Trimmed by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,920 shares of the aerospace company’s stock after selling 1,321 shares during the quarter. Retirement Systems of Alabama’s holdings in General Dynamics were worth $12,963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GD. Briaud Financial Planning Inc acquired a new stake in shares of General Dynamics during the 3rd quarter valued at about $27,000. Rakuten Securities Inc. acquired a new stake in shares of General Dynamics during the 4th quarter valued at about $38,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of General Dynamics during the 4th quarter valued at about $38,000. Operose Advisors LLC acquired a new stake in shares of General Dynamics during the 3rd quarter valued at about $40,000. Finally, Rational Advisors LLC acquired a new stake in shares of General Dynamics during the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

GD opened at $286.53 on Thursday. The stock has a market cap of $78.61 billion, a PE ratio of 23.37, a P/E/G ratio of 1.79 and a beta of 0.68. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $296.50. The stock’s 50 day simple moving average is $281.88 and its 200-day simple moving average is $262.88.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter last year, the company earned $2.64 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.98%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio is 46.33%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GD. Argus boosted their target price on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Monday. Alembic Global Advisors lowered General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price for the company. in a report on Monday, January 29th. Barclays boosted their target price on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. UBS Group boosted their target price on General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Finally, Susquehanna boosted their target price on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $297.06.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the sale, the vice president now directly owns 103,345 shares in the company, valued at $29,816,065.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the transaction, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.