General Dynamics Co. (NYSE:GD) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lessened its position in shares of General Dynamics Co. (NYSE:GD) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 169,704 shares of the aerospace company’s stock after selling 10,885 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in General Dynamics were worth $44,067,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of General Dynamics in the fourth quarter valued at about $728,284,000. Wellington Management Group LLP grew its position in shares of General Dynamics by 12.0% in the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after purchasing an additional 1,755,276 shares during the period. International Assets Investment Management LLC grew its position in shares of General Dynamics by 10,763.2% in the fourth quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock valued at $239,829,000 after purchasing an additional 915,091 shares during the period. FMR LLC grew its position in shares of General Dynamics by 13.7% in the third quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock valued at $506,744,000 after purchasing an additional 275,947 shares during the period. Finally, Boston Partners grew its position in shares of General Dynamics by 12.7% in the third quarter. Boston Partners now owns 1,763,878 shares of the aerospace company’s stock valued at $392,110,000 after purchasing an additional 198,185 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP William A. Moss sold 21,050 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $294.85, for a total value of $6,206,592.50. Following the completion of the transaction, the vice president now owns 16,624 shares in the company, valued at approximately $4,901,586.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,486 shares of company stock worth $34,391,642. Corporate insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on GD shares. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the company from $305.00 to $335.00 in a research report on Monday, April 29th. Wells Fargo & Company raised their price target on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. UBS Group raised their price target on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada decreased their price target on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $300.63.

General Dynamics Trading Up 1.0 %

Shares of General Dynamics stock traded up $3.10 on Friday, reaching $299.62. The company had a trading volume of 784,155 shares, compared to its average volume of 962,608. The firm’s 50 day moving average price is $289.09 and its two-hundred day moving average price is $269.41. The firm has a market cap of $82.20 billion, a PE ratio of 24.44, a PEG ratio of 1.69 and a beta of 0.67. General Dynamics Co. has a 52-week low of $202.35 and a 52-week high of $301.48. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.64 EPS. Sell-side analysts predict that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were issued a $1.42 dividend. The ex-dividend date was Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is 46.33%.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.