Delta Capital Management LLC Decreases Stock Position in General Dynamics Co. (NYSE:GD)

Delta Capital Management LLC cut its stake in General Dynamics Co. (NYSE:GD) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,010 shares of the aerospace company’s stock after selling 380 shares during the quarter. General Dynamics comprises about 1.3% of Delta Capital Management LLC’s holdings, making the stock its 20th largest position. Delta Capital Management LLC’s holdings in General Dynamics were worth $3,274,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in General Dynamics by 34,578.2% during the first quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company’s stock worth $339,253,000 after buying an additional 1,241,011 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in General Dynamics during the fourth quarter worth about $279,582,000. Raymond James Financial Inc. purchased a new position in General Dynamics during the fourth quarter worth about $197,238,000. Vanguard Group Inc. lifted its stake in General Dynamics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock worth $6,265,813,000 after purchasing an additional 706,317 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in General Dynamics by 7.4% during the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company’s stock worth $1,774,381,000 after purchasing an additional 463,497 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Trading Up 1.4%

GD opened at $279.80 on Friday. The business has a 50 day simple moving average of $274.04 and a two-hundred day simple moving average of $266.63. The firm has a market capitalization of $75.10 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 1.69 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a one year low of $239.20 and a one year high of $316.90.

General Dynamics (NYSE:GD) last released its quarterly 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. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. During the same quarter in the prior year, the company posted $2.88 EPS. General Dynamics’s quarterly revenue was up 13.9% compared to the same quarter last year. Analysts predict that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.14%. General Dynamics’s dividend payout ratio (DPR) is 41.61%.

Wall Street Analysts Forecast Growth

GD has been the subject of several research analyst reports. UBS Group lifted their price target on General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Susquehanna lifted their price target on General Dynamics from $300.00 to $315.00 and gave the stock a “positive” rating in a research note on Wednesday, April 2nd. William Blair lowered General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Morgan Stanley dropped their price target on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, BTIG Research lowered General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $293.00.

About General Dynamics

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.