General Dynamics Corporation $GD Stock Holdings Decreased by Morningstar Investment Management LLC

Morningstar Investment Management LLC lowered its stake in General Dynamics Corporation (NYSE:GD) by 49.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 24,180 shares of the aerospace company’s stock after selling 23,955 shares during the period. Morningstar Investment Management LLC’s holdings in General Dynamics were worth $8,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Joule Financial LLC increased its position in shares of General Dynamics by 4.3% in the 4th quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock worth $237,000 after purchasing an additional 29 shares during the last quarter. Brown Miller Wealth Management LLC increased its position in shares of General Dynamics by 0.3% in the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock worth $2,993,000 after purchasing an additional 29 shares during the last quarter. First Financial Bankshares Inc increased its position in shares of General Dynamics by 2.6% in the 3rd quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company’s stock worth $408,000 after purchasing an additional 30 shares during the last quarter. Steph & Co. increased its position in shares of 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 purchasing an additional 30 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its position in shares of General Dynamics by 3.3% in the 4th quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock worth $329,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

NYSE GD opened at $343.20 on Monday. General Dynamics Corporation has a 52 week low of $268.10 and a 52 week high of $369.70. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The stock has a market cap of $92.81 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.13 and a beta of 0.34. The company has a 50-day moving average price of $341.74 and a two-hundred day moving average price of $346.51.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. The firm had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. General Dynamics’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.66 EPS. Analysts forecast that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were issued a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. The ex-dividend date was Friday, April 10th. General Dynamics’s payout ratio is 40.03%.

Analysts Set New Price Targets

GD has been the subject of several research analyst reports. Wells Fargo & Company started coverage on shares of General Dynamics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. BNP Paribas Exane lowered their price objective on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Citigroup decreased their target price on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Finally, The Goldman Sachs Group decreased their target price on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $387.40.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 32,918 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total value of $11,655,934.62. Following the completion of the transaction, the chief executive officer directly owned 766,457 shares in the company, valued at $271,394,759.13. This trade represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the completion of the transaction, the executive vice president owned 44,767 shares of the company’s stock, valued at $15,825,134.50. This trade represents a 7.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 119,600 shares of company stock worth $41,650,580 over the last three months. Corporate insiders own 1.40% of the company’s stock.

General Dynamics 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.