Asset Management One Co. Ltd. Increases Position in General Dynamics Corporation (NYSE:GD)

Asset Management One Co. Ltd. raised its position in General Dynamics Corporation (NYSE:GD) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,767 shares of the aerospace company’s stock after purchasing an additional 7,091 shares during the period. Asset Management One Co. Ltd.’s holdings in General Dynamics were worth $25,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Hickory Point Bank & Trust purchased a new stake in shares of General Dynamics in the 4th quarter valued at approximately $692,000. Jones Financial Companies Lllp increased its position in shares of General Dynamics by 45.4% in the 4th quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company’s stock valued at $21,228,000 after purchasing an additional 25,144 shares during the last quarter. U S Global Investors Inc. increased its position in shares of General Dynamics by 18.6% in the 4th quarter. U S Global Investors Inc. now owns 79,450 shares of the aerospace company’s stock valued at $20,934,000 after purchasing an additional 12,453 shares during the last quarter. Renasant Bank increased its position in shares of General Dynamics by 46.8% in the 4th quarter. Renasant Bank now owns 3,258 shares of the aerospace company’s stock valued at $858,000 after purchasing an additional 1,038 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in shares of General Dynamics by 990.0% in the 4th quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company’s stock valued at $17,537,000 after buying an additional 60,451 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on GD shares. TD Securities increased their target price on shares of General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. UBS Group increased their target price on shares of General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Citigroup dropped their target price 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. Morgan Stanley dropped their target price on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Susquehanna increased their price target on shares of General Dynamics from $300.00 to $315.00 and gave the stock a “positive” rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $293.00.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were 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 directly owns 769,607 shares in the company, valued at approximately $217,898,829.91. This trade represents a 18.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

General Dynamics Stock Down 0.4%

Shares of NYSE GD opened at $281.30 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $316.90. The firm has a 50-day moving average price of $275.74 and a 200 day moving average price of $266.63. The stock has a market capitalization of $75.50 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.90 and a beta of 0.46.

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

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 2.13%. General Dynamics’s dividend payout ratio (DPR) is currently 41.61%.

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.