General Dynamics Corporation $GD Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. decreased its position in shares of General Dynamics Corporation (NYSE:GD) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,658 shares of the aerospace company’s stock after selling 3,817 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in General Dynamics were worth $28,368,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of General Dynamics in the 3rd quarter valued at approximately $26,000. Louisbourg Investments Inc. acquired a new position in General Dynamics in the third quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC grew its position in General Dynamics by 80.3% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 110 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 49 shares during the period. NewSquare Capital LLC increased its stake in General Dynamics by 64.7% during the second quarter. NewSquare Capital LLC now owns 112 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 44 shares during the last quarter. Finally, Harbor Asset Planning Inc. purchased a new stake in General Dynamics in the second quarter valued at $35,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GD. Bank of America increased their price target on General Dynamics from $370.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. The Goldman Sachs Group lifted their price target on shares of General Dynamics from $280.00 to $293.00 and gave the company a “sell” rating in a research report on Friday, October 10th. Vertical Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Monday, October 27th. BNP Paribas Exane increased their price objective on shares of General Dynamics from $410.00 to $420.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Finally, Wolfe Research boosted their target price on General Dynamics from $400.00 to $415.00 and gave the company an “outperform” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and an average target price of $366.70.

Insiders Place Their Bets

In other General Dynamics news, VP David Paddock sold 20,360 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $334.92, for a total transaction of $6,818,971.20. Following the sale, the vice president owned 36,644 shares in the company, valued at $12,272,808.48. This represents a 35.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by company insiders.

General Dynamics Trading Down 0.6%

Shares of GD stock opened at $363.60 on Friday. The stock has a market capitalization of $98.22 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 1.79 and a beta of 0.41. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $369.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.40. The company has a 50 day moving average price of $346.14 and a 200 day moving average price of $333.05.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.69 by $0.19. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The company had revenue of $12.91 billion during the quarter, compared to analysts’ expectations of $12.49 billion. During the same quarter last year, the company posted $3.35 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, January 16th. General Dynamics’s payout ratio is presently 38.89%.

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.