California State Teachers Retirement System reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 0.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 452,096 shares of the aerospace company’s stock after selling 379 shares during the period. California State Teachers Retirement System owned approximately 0.15% of General Dynamics worth $91,979,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. ETRADE Capital Management LLC lifted its holdings in shares of General Dynamics by 38.0% during the 3rd quarter. ETRADE Capital Management LLC now owns 2,337 shares of the aerospace company’s stock worth $481,000 after acquiring an additional 643 shares during the last quarter. IFG Advisory LLC bought a new stake in shares of General Dynamics during the 4th quarter worth $543,000. Amalgamated Bank lifted its holdings in shares of General Dynamics by 1.8% during the 3rd quarter. Amalgamated Bank now owns 30,733 shares of the aerospace company’s stock worth $6,318,000 after acquiring an additional 549 shares during the last quarter. Country Club Trust Company n.a. bought a new stake in shares of General Dynamics during the 4th quarter worth $448,000. Finally, Rothschild Investment Corp IL raised its position in General Dynamics by 11.3% in the 4th quarter. Rothschild Investment Corp IL now owns 37,975 shares of the aerospace company’s stock worth $7,726,000 after purchasing an additional 3,849 shares during the period. 93.41% of the stock is owned by institutional investors.
In related news, VP Gary L. Whited sold 5,977 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $224.52, for a total transaction of $1,341,956.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider S. Daniel Johnson sold 3,933 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $228.79, for a total transaction of $899,831.07. Following the transaction, the insider now owns 66,363 shares in the company, valued at approximately $15,183,190.77. The disclosure for this sale can be found here. Insiders sold 30,357 shares of company stock worth $6,715,463 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.13. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The firm had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.40 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. equities research analysts expect that General Dynamics Co. will post 11.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Friday, April 13th will be given a $0.93 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $0.84. The ex-dividend date is Thursday, April 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.66%. General Dynamics’s payout ratio is presently 33.63%.
GD has been the topic of a number of analyst reports. Jefferies Group reiterated a “buy” rating and issued a $237.00 target price on shares of General Dynamics in a research report on Monday, January 8th. Royal Bank of Canada set a $239.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Bank of America lifted their target price on shares of General Dynamics from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $234.00 target price on the stock in a research report on Friday, January 19th. Finally, Buckingham Research reiterated a “buy” rating and issued a $260.00 target price (up previously from $230.00) on shares of General Dynamics in a research report on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. General Dynamics has a consensus rating of “Hold” and an average target price of $235.88.
About General Dynamics
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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