Worldquant Millennium Advisors LLC Sells 20,415 Shares of General Dynamics Co. (NYSE:GD)

Worldquant Millennium Advisors LLC lowered its stake in General Dynamics Co. (NYSE:GD) by 20.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,225 shares of the aerospace company’s stock after selling 20,415 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in General Dynamics were worth $20,612,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Austin Wealth Management LLC grew its holdings in shares of General Dynamics by 5.4% during the fourth quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company’s stock worth $220,000 after purchasing an additional 42 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in General Dynamics by 35.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company’s stock worth $43,000 after buying an additional 43 shares in the last quarter. Stokes Family Office LLC boosted its stake in General Dynamics by 0.4% in the fourth quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company’s stock worth $2,708,000 after buying an additional 43 shares in the last quarter. ICW Investment Advisors LLC boosted its stake in General Dynamics by 0.5% in the fourth quarter. ICW Investment Advisors LLC now owns 8,491 shares of the aerospace company’s stock worth $2,237,000 after buying an additional 43 shares in the last quarter. Finally, Kelleher Financial Advisors boosted its stake in General Dynamics by 2.8% in the fourth quarter. Kelleher Financial Advisors now owns 1,590 shares of the aerospace company’s stock worth $419,000 after buying an additional 44 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $281.38 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The company has a market cap of $75.52 billion, a PE ratio of 20.63, a P/E/G ratio of 1.69 and a beta of 0.49. The business has a 50 day moving average of $270.53 and a 200 day moving average of $268.66. General Dynamics Co. has a 52 week low of $239.20 and a 52 week high of $316.90.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 earnings per share. As a group, equities research analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 11th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Friday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio is currently 41.61%.

Wall Street Analyst Weigh In

GD has been the subject of several research reports. UBS Group upped their target price on General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. William Blair lowered General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Citigroup cut their target price on General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. cut their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, Argus set a $295.00 target price on General Dynamics in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Hold” and an average price target of $293.00.

Insider Activity at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now owns 45,192 shares in the company, valued at approximately $12,297,195.12. This represents a 37.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by corporate insiders.

General Dynamics 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.