General Dynamics Corporation (NYSE:GD) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its position in shares of General Dynamics Corporation (NYSE:GD) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,786 shares of the aerospace company’s stock after purchasing an additional 305 shares during the period. State of Alaska Department of Revenue’s holdings in General Dynamics were worth $9,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC grew its stake in shares of General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 62 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in General Dynamics in the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Dynamics during the 4th quarter valued at approximately $26,000. Copia Wealth Management purchased a new stake in General Dynamics during the 4th quarter worth approximately $27,000. Finally, Hoey Investments Inc. acquired a new position in shares of General Dynamics in the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the completion of the transaction, the chief executive officer now owns 769,607 shares of the company’s stock, valued at approximately $217,898,829.91. The trade was a 18.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on GD shares. William Blair cut shares of General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Argus set a $295.00 target price on shares of General Dynamics in a research note on Tuesday, May 6th. Citigroup reduced their price target on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. UBS Group boosted their price objective on General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Finally, TD Securities increased their target price on General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $293.00.

General Dynamics Price Performance

Shares of GD opened at $278.35 on Thursday. The business’s 50-day moving average is $275.42 and its 200-day moving average is $266.56. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. The company has a market capitalization of $74.71 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.89 and a beta of 0.46. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same period in the prior year, the firm posted $2.88 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. Equities research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s dividend payout ratio is 41.61%.

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.