Louisiana State Employees Retirement System trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 2.1% in the first quarter, HoldingsChannel.com reports. The fund owned 14,300 shares of the aerospace company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in General Dynamics were worth $2,421,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Financial Gravity Companies Inc. purchased a new position in shares of General Dynamics during the 4th quarter worth approximately $25,000. We Are One Seven LLC purchased a new position in shares of General Dynamics during the 4th quarter worth approximately $27,000. Aspire Private Capital LLC purchased a new stake in General Dynamics in the 4th quarter worth approximately $29,000. CX Institutional purchased a new stake in General Dynamics in the 1st quarter worth approximately $45,000. Finally, Athena Capital Advisors LLC purchased a new stake in General Dynamics in the 4th quarter worth approximately $46,000. Institutional investors own 87.26% of the company’s stock.
Shares of NYSE GD traded down $3.02 during trading on Monday, hitting $171.91. 6,157 shares of the company traded hands, compared to its average volume of 1,230,353. General Dynamics Co. has a 1 year low of $143.87 and a 1 year high of $229.74. The stock has a market capitalization of $50.51 billion, a PE ratio of 15.05, a P/E/G ratio of 1.59 and a beta of 1.12. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 0.98.
General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.98 by $0.09. The business had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.34 billion. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.50 EPS. Equities research analysts expect that General Dynamics Co. will post 11.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a dividend of $1.02 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $4.08 annualized dividend and a dividend yield of 2.37%. General Dynamics’s payout ratio is presently 35.73%.
GD has been the subject of several recent analyst reports. Jefferies Financial Group cut shares of General Dynamics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $197.00 to $164.00 in a research note on Tuesday, January 8th. FIG Partners raised shares of General Dynamics to an “add” rating in a research note on Tuesday, January 8th. Susquehanna Bancshares initiated coverage on shares of General Dynamics in a research note on Thursday, January 10th. They set a “neutral” rating and a $175.00 price objective for the company. Citigroup lowered their price objective on shares of General Dynamics from $195.00 to $175.00 and set a “neutral” rating for the company in a research note on Monday, January 14th. Finally, Credit Suisse Group reissued a “buy” rating and set a $190.00 price objective on shares of General Dynamics in a research note on Monday, January 14th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $204.43.
In related news, VP Christopher J. Brady sold 2,327 shares of General Dynamics stock in a transaction on Monday, February 4th. The shares were sold at an average price of $171.23, for a total transaction of $398,452.21. Following the transaction, the vice president now owns 5,134 shares in the company, valued at approximately $879,094.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lester L. Lyles sold 4,580 shares of General Dynamics stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $172.42, for a total transaction of $789,683.60. Following the transaction, the director now owns 12,314 shares in the company, valued at approximately $2,123,179.88. The disclosure for this sale can be found here. Insiders have sold a total of 21,547 shares of company stock worth $3,609,299 in the last 90 days. Company insiders own 7.10% of the company’s stock.
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About General Dynamics
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.
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