General Dynamics Co. (GD) Holdings Reduced by Asset Dedication LLC
Asset Dedication LLC decreased its holdings in General Dynamics Co. (NYSE:GD) by 16.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 977 shares of the aerospace company’s stock after selling 187 shares during the quarter. Asset Dedication LLC’s holdings in General Dynamics were worth $165,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC grew its holdings in General Dynamics by 63.0% in the 1st quarter. Virtu Financial LLC now owns 8,155 shares of the aerospace company’s stock valued at $1,380,000 after buying an additional 3,151 shares during the period. U S Global Investors Inc. grew its holdings in General Dynamics by 3.4% in the 4th quarter. U S Global Investors Inc. now owns 15,151 shares of the aerospace company’s stock valued at $2,382,000 after buying an additional 499 shares during the period. Tompkins Financial Corp grew its holdings in General Dynamics by 3.8% in the 4th quarter. Tompkins Financial Corp now owns 16,406 shares of the aerospace company’s stock valued at $2,579,000 after buying an additional 608 shares during the period. Iberiabank Corp grew its holdings in General Dynamics by 6.0% in the 4th quarter. Iberiabank Corp now owns 10,339 shares of the aerospace company’s stock valued at $1,625,000 after buying an additional 581 shares during the period. Finally, Miracle Mile Advisors LLC purchased a new stake in General Dynamics in the 4th quarter valued at about $241,000. Institutional investors own 87.27% of the company’s stock.
Several analysts have commented on GD shares. FIG Partners upgraded General Dynamics to an “add” rating in a report on Tuesday, January 8th. Credit Suisse Group reiterated a “buy” rating and set a $190.00 target price on shares of General Dynamics in a report on Monday, January 14th. Drexel Hamilton reiterated a “buy” rating and set a $230.00 target price on shares of General Dynamics in a report on Monday, February 4th. Cowen reiterated a “buy” rating on shares of General Dynamics in a report on Wednesday, March 6th. Finally, Argus cut General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 target price for the company. in a report on Thursday, January 31st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. General Dynamics currently has a consensus rating of “Hold” and a consensus price target of $204.43.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 30th. The aerospace company reported $3.07 EPS for the quarter, topping the consensus estimate of $2.98 by $0.09. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.34 billion. General Dynamics had a return on equity of 28.33% and a net margin of 9.24%. General Dynamics’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 EPS. As a group, sell-side analysts forecast that General Dynamics Co. will post 11.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. This represents a $4.08 annualized dividend and a yield of 2.31%. General Dynamics’s payout ratio is 35.73%.
In related news, VP Gary L. Whited sold 14,640 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,037,805.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Patrick Casey sold 45,470 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $172.46, for a total value of $7,841,756.20. Following the transaction, the executive vice president now directly owns 148,133 shares in the company, valued at $25,547,017.18. The disclosure for this sale can be found here. Insiders have sold a total of 67,017 shares of company stock worth $11,451,055 over the last three months. 7.10% of the stock is currently owned by corporate insiders.
General Dynamics 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.
Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD).
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.