Treasurer of the State of North Carolina Cuts Position in General Dynamics Co. (NYSE:GD)

Treasurer of the State of North Carolina lessened its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 131,313 shares of the aerospace company's stock after selling 6,169 shares during the period. Treasurer of the State of North Carolina's holdings in General Dynamics were worth $34,600,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Financial Life Planners bought a new stake in shares of General Dynamics during the 4th quarter valued at about $25,000. Whipplewood Advisors LLC purchased a new position in shares of General Dynamics during the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Dynamics in the 4th quarter worth $26,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Dynamics during the 4th quarter valued at about $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Up 1.2 %

NYSE GD traded up $3.36 during trading on Wednesday, reaching $280.50. The company's stock had a trading volume of 714,120 shares, compared to its average volume of 1,349,004. General Dynamics Co. has a 1-year low of $239.20 and a 1-year high of $316.90. The business has a 50-day moving average price of $260.33 and a 200-day moving average price of $273.46. 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 $75.28 billion, a PE ratio of 20.56, a PEG ratio of 1.69 and a beta of 0.43.

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General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. On average, research analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This is an increase from General Dynamics's previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.14%. General Dynamics's dividend payout ratio is presently 43.99%.

Analysts Set New Price Targets

GD has been the topic of several analyst reports. Citigroup cut their price target on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Vertical Research downgraded General Dynamics from a "buy" rating to a "hold" rating and dropped their price target for the company from $352.00 to $290.00 in a research note on Monday, January 6th. The Goldman Sachs Group decreased their target price on shares of General Dynamics from $245.00 to $241.00 and set a "sell" rating for the company in a research note on Tuesday, January 28th. Robert W. Baird reissued a "neutral" rating and set a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Finally, UBS Group reduced their price target on shares of General Dynamics from $337.00 to $281.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $294.47.

Insider Activity

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business's stock in a transaction dated 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 directly owns 45,192 shares in the company, valued at $12,297,195.12. The trade was a 37.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the transaction, the director now directly owns 11,175 shares in the company, valued at $2,857,224. The trade was 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 currently owned by company insiders.

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.