General Dynamics Corporation $GD Holdings Lowered by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in General Dynamics Corporation (NYSE:GD) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 590,514 shares of the aerospace company’s stock after selling 48,329 shares during the period. California Public Employees Retirement System owned 0.22% of General Dynamics worth $202,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. KERR FINANCIAL PLANNING Corp bought a new position in General Dynamics during the 3rd quarter valued at $25,000. Dagco Inc. acquired a new stake in shares of General Dynamics in the fourth quarter valued at $25,000. Whipplewood Advisors LLC lifted its holdings in shares of General Dynamics by 1,725.0% in the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $25,000 after buying an additional 69 shares during the period. Steph & Co. boosted its stake in General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after buying an additional 30 shares in the last quarter. Finally, Center for Financial Planning Inc. boosted its stake in General Dynamics by 220.7% during the fourth quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock valued at $31,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of several research reports. Wells Fargo & Company assumed coverage on shares of General Dynamics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price target on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $385.00 price objective on shares of General Dynamics in a research note on Thursday, April 30th. Bank of America boosted their target price on shares of General Dynamics from $400.00 to $415.00 and gave the stock a “buy” rating in a report on Monday, July 6th. DA Davidson cut their target price on shares of General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Finally, BNP Paribas Exane reduced their target price on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $391.15.

Insider Buying and Selling

In related news, Director Mark Malcolm sold 5,480 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 10,643 shares in the company, valued at approximately $3,884,695. This represents a 33.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president directly owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This represents a 48.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 78,190 shares of company stock worth $27,041,022 in the last 90 days. 1.40% of the stock is owned by company insiders.

General Dynamics Trading Up 0.0%

Shares of NYSE GD opened at $368.91 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 12 month low of $293.95 and a 12 month high of $380.71. The company has a market cap of $99.76 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 2.22 and a beta of 0.34. The business has a fifty day simple moving average of $352.73 and a 200-day simple moving average of $350.49.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. During the same quarter last year, the business posted $3.66 EPS. General Dynamics’s revenue was up 10.3% on a year-over-year basis. Sell-side analysts predict that General Dynamics Corporation will post 16.64 EPS for the current year.

General Dynamics Announces Dividend

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

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.