General Dynamics Co. (NYSE:GD) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,909 shares of the aerospace company’s stock after selling 326 shares during the period. Cullen Investment Group LTD.’s holdings in General Dynamics were worth $1,338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GD. Castlekeep Investment Advisors LLC acquired a new stake in General Dynamics in the fourth quarter valued at approximately $279,582,000. Raymond James Financial Inc. acquired a new stake in General Dynamics in the fourth quarter valued at approximately $197,238,000. Vanguard Group Inc. grew its holdings in General Dynamics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock valued at $6,265,813,000 after purchasing an additional 706,317 shares during the period. Capital Research Global Investors grew its holdings in General Dynamics by 7.4% in the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company’s stock valued at $1,774,381,000 after purchasing an additional 463,497 shares during the period. Finally, Voloridge Investment Management LLC grew its holdings in General Dynamics by 6,387.2% in the fourth quarter. Voloridge Investment Management LLC now owns 401,236 shares of the aerospace company’s stock valued at $105,722,000 after purchasing an additional 395,051 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $273.60 on Thursday. General Dynamics Co. has a one year low of $239.20 and a one year high of $316.90. The company has a market cap of $73.43 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.69 and a beta of 0.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The business’s 50 day moving average price is $271.84 and its 200 day moving average price is $267.79.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter last year, the business posted $2.88 earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. On average, research analysts predict that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 11th were given a dividend of $1.50 per share. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a yield of 2.19%. General Dynamics’s dividend payout ratio (DPR) is presently 41.61%.

Wall Street Analysts Forecast Growth

Several analysts have commented on GD shares. BTIG Research lowered General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. Cowen reissued a “buy” rating on shares of General Dynamics in a report on Thursday, April 24th. Susquehanna raised their price objective on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. dropped their price objective on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Argus set a $295.00 price target on General Dynamics in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $293.00.

Insider Buying and Selling

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the sale, the senior vice president now owns 45,192 shares of the company’s stock, valued at $12,297,195.12. This trade represents a 37.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

General Dynamics Profile

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.