Trust Co. of Virginia VA trimmed its stake in General Dynamics Co. (NYSE:GD) by 96.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,552 shares of the aerospace company’s stock after selling 44,806 shares during the period. Trust Co. of Virginia VA’s holdings in General Dynamics were worth $263,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc lifted its stake in General Dynamics by 1.7% in the third quarter. Vanguard Group Inc now owns 20,905,951 shares of the aerospace company’s stock worth $4,279,866,000 after acquiring an additional 357,032 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of General Dynamics by 14,601.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,581,635 shares of the aerospace company’s stock worth $61,000 after purchasing an additional 9,516,460 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of General Dynamics by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock worth $551,080,000 after purchasing an additional 193,294 shares during the last quarter. Iridian Asset Management LLC CT lifted its stake in shares of General Dynamics by 3.8% during the 4th quarter. Iridian Asset Management LLC CT now owns 1,198,828 shares of the aerospace company’s stock worth $188,468,000 after purchasing an additional 43,375 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of General Dynamics by 35.1% during the 4th quarter. California Public Employees Retirement System now owns 1,172,516 shares of the aerospace company’s stock worth $184,331,000 after purchasing an additional 304,454 shares during the last quarter. Institutional investors own 86.41% of the company’s stock.
NYSE GD traded down $2.24 during trading on Wednesday, reaching $169.21. 14,482 shares of the company’s stock were exchanged, compared to its average volume of 1,374,359. The company has a market capitalization of $48.06 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.59 and a beta of 1.13. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.82. General Dynamics Co. has a 1 year low of $143.87 and a 1 year high of $208.88.
General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.18. The company had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $8.90 billion. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. General Dynamics’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.65 EPS. As a group, equities research analysts expect that General Dynamics Co. will post 11.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 12th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.41%. This is an increase from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date was Thursday, April 11th. General Dynamics’s payout ratio is 35.73%.
In other news, VP Gary L. Whited sold 14,640 shares of General Dynamics stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the sale, the vice president now owns 30,462 shares in the company, valued at $5,037,805.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Patrick Casey sold 45,470 shares of General Dynamics stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $172.46, for a total value of $7,841,756.20. Following the sale, the executive vice president now owns 148,133 shares in the company, valued at approximately $25,547,017.18. The disclosure for this sale can be found here. Insiders have sold a total of 64,690 shares of company stock valued at $11,052,603 over the last ninety days. 7.10% of the stock is owned by company insiders.
Several research firms have issued reports on GD. Zacks Investment Research cut General Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Cowen reiterated a “buy” rating on shares of General Dynamics in a report on Wednesday, March 6th. Argus lowered General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 target price for the company. in a report on Thursday, January 31st. Credit Suisse Group lowered General Dynamics from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $190.00 to $184.00 in a report on Friday, February 15th. Finally, ValuEngine lowered General Dynamics from a “hold” rating to a “sell” rating in a report on Saturday, February 2nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $198.16.
General Dynamics Company Profile
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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