Martingale Asset Management L P Sells 2,941 Shares of General Dynamics Co. (NYSE:GD)

Martingale Asset Management L P reduced its holdings in General Dynamics Co. (NYSE:GD - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,684 shares of the aerospace company's stock after selling 2,941 shares during the period. Martingale Asset Management L P's holdings in General Dynamics were worth $20,996,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Empowered Funds LLC grew its position in General Dynamics by 15.3% during the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company's stock worth $2,553,000 after buying an additional 1,283 shares in the last quarter. Kentucky Trust Co acquired a new stake in General Dynamics during the fourth quarter worth $607,000. Hickory Point Bank & Trust bought a new stake in General Dynamics in the 4th quarter valued at $692,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of General Dynamics by 69.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company's stock worth $69,032,000 after acquiring an additional 107,095 shares during the period. Finally, Atlas Legacy Advisors LLC acquired a new stake in shares of General Dynamics during the 4th quarter valued at about $550,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now directly owns 45,192 shares in the company, valued at approximately $12,297,195.12. The trade was a 37.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares in the company, valued at approximately $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. 1.52% of the stock is owned by corporate insiders.

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General Dynamics Trading Up 0.4 %

General Dynamics stock traded up $1.04 during mid-day trading on Monday, hitting $277.69. The stock had a trading volume of 301,908 shares, compared to its average volume of 1,721,570. The stock has a 50-day simple moving average of $259.48 and a two-hundred day simple moving average of $273.58. 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 has a market capitalization of $74.53 billion, a PE ratio of 20.36, a P/E/G ratio of 1.69 and a beta of 0.43. General Dynamics Co. has a 12 month low of $239.20 and a 12 month high of $316.90.

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

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's dividend payout ratio is 43.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GD. UBS Group cut their price target on shares of General Dynamics from $337.00 to $281.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. Barclays cut their target price on General Dynamics from $305.00 to $285.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their price target on General Dynamics from $303.00 to $295.00 and set a "hold" rating on the stock in a research report on Thursday, January 2nd. William Blair cut General Dynamics from an "outperform" rating to a "market perform" rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered their target price on shares of General Dynamics from $307.00 to $284.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $296.82.

General Dynamics Company 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.