Strs Ohio Cuts Stock Position in General Dynamics Corporation $GD

Strs Ohio cut its holdings in shares of General Dynamics Corporation (NYSE:GD) by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,228 shares of the aerospace company’s stock after selling 3,336 shares during the quarter. Strs Ohio’s holdings in General Dynamics were worth $23,760,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GD. AQR Capital Management LLC increased its holdings in General Dynamics by 118.3% during the third quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock worth $567,372,000 after buying an additional 901,679 shares during the last quarter. Northern Trust Corp grew its position in shares of General Dynamics by 35.0% during the 3rd quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock valued at $1,136,525,000 after acquiring an additional 863,392 shares during the period. Balyasny Asset Management L.P. grew its position in shares of General Dynamics by 831.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock valued at $251,405,000 after acquiring an additional 658,081 shares during the period. SG Americas Securities LLC increased its stake in shares of General Dynamics by 6,680.8% during the 4th quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock worth $199,130,000 after purchasing an additional 582,765 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of General Dynamics by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after purchasing an additional 528,769 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

NYSE:GD opened at $373.34 on Friday. The business’s fifty day moving average is $344.97 and its 200 day moving average is $348.35. The firm has a market cap of $100.96 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.31 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. General Dynamics Corporation has a 52-week low of $292.34 and a 52-week high of $373.60.

General Dynamics (NYSE:GD) last issued 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. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. During the same quarter last year, the company earned $3.66 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. Research analysts predict that General Dynamics Corporation will post 16.63 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio is 40.03%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GD. The Goldman Sachs Group dropped their price objective on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research note on Monday, May 4th. Weiss Ratings upgraded General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. BNP Paribas Exane dropped their price target on General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $380.00 to $400.00 in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $388.40.

Insider Activity at General Dynamics

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the transaction, the director directly owned 10,643 shares of the company’s stock, valued at $3,884,695. This trade represents a 33.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 78,190 shares of company stock worth $27,041,022 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

General Dynamics Company 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.