General Dynamics Co. (NYSE:GD) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury trimmed its position in shares of General Dynamics Co. (NYSE:GD - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,065 shares of the aerospace company's stock after selling 5,408 shares during the period. State of Tennessee Department of Treasury's holdings in General Dynamics were worth $21,360,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Financial Life Planners purchased a new position in shares of General Dynamics in the 4th quarter valued at $25,000. 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 position in shares of General Dynamics during the fourth quarter worth about $26,000. Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter valued at about $28,000. Finally, Hoey Investments Inc. acquired a new position in General Dynamics during the 4th quarter worth approximately $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Trading Up 0.5 %

Shares of NYSE GD opened at $274.45 on Wednesday. General Dynamics Co. has a 12-month low of $239.20 and a 12-month high of $316.90. The company has a market cap of $73.66 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock's 50 day simple moving average is $262.54 and its 200 day simple moving average is $272.52.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Equities research analysts expect that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be given a $1.50 dividend. This is a boost from General Dynamics's previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics's dividend payout ratio (DPR) is currently 43.99%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GD. Vertical Research lowered shares of General Dynamics from a "buy" rating to a "hold" rating and dropped their price objective for the company from $352.00 to $290.00 in a research note on Monday, January 6th. Wells Fargo & Company cut their price target on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Barclays lowered their price objective on General Dynamics from $305.00 to $285.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. The Goldman Sachs Group cut their target price on General Dynamics from $245.00 to $241.00 and set a "sell" rating on the stock in a research report on Tuesday, January 28th. Finally, Robert W. Baird reissued a "neutral" rating and set a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, fourteen have assigned 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 currently has an average rating of "Hold" and a consensus price target of $294.47.

Insider Buying and Selling at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares in the company, 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. Also, Director Laura J. Schumacher sold 1,796 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares of the company's stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is 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.

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