American International Group Inc. Decreases Stake in General Dynamics Co. (NYSE:GD)

American International Group Inc. lessened its holdings in shares of General Dynamics Co. (NYSE:GDFree Report) by 2.4% in the 4th quarter, Holdings Channel reports. The fund owned 57,532 shares of the aerospace company’s stock after selling 1,385 shares during the quarter. American International Group Inc.’s holdings in General Dynamics were worth $14,939,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC acquired a new stake in General Dynamics during the fourth quarter worth about $25,000. Voisard Asset Management Group Inc. purchased a new stake in shares of General Dynamics during the 4th quarter valued at approximately $36,000. Rakuten Securities Inc. purchased a new position in General Dynamics in the fourth quarter worth approximately $38,000. Wetzel Investment Advisors Inc. purchased a new stake in General Dynamics in the fourth quarter valued at $38,000. Finally, Operose Advisors LLC acquired a new position in shares of General Dynamics in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup boosted their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Barclays upped their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Sanford C. Bernstein lifted their target price on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. upped their price target on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company lifted their price objective on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average price target of $300.63.

Get Our Latest Stock Report on General Dynamics

General Dynamics Stock Down 0.3 %

General Dynamics stock traded down $0.74 during trading on Friday, reaching $291.78. The stock had a trading volume of 639,947 shares, compared to its average volume of 802,686. General Dynamics Co. has a 52-week low of $209.25 and a 52-week high of $302.42. The business has a 50 day moving average price of $292.61 and a 200 day moving average price of $274.74. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a market cap of $80.05 billion, a PE ratio of 23.80, a P/E/G ratio of 1.66 and a beta of 0.64.

General Dynamics (NYSE:GDGet Free Report) last issued its quarterly earnings data 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 firm had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the prior year, the firm posted $2.64 EPS. General Dynamics’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts predict that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the sale, the director now directly owns 5,518 shares in the company, valued at approximately $1,589,184. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares in the company, valued at $218,773,956.50. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock valued at $34,391,642 in the last ninety days. Insiders own 1.52% of the company’s stock.

General Dynamics Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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