Resona Asset Management Co. Ltd. Has $27.08 Million Stake in General Dynamics Corporation $GD

Resona Asset Management Co. Ltd. cut its holdings in General Dynamics Corporation (NYSE:GD) by 4.1% during the 4th quarter, HoldingsChannel reports. The fund owned 80,243 shares of the aerospace company’s stock after selling 3,415 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in General Dynamics were worth $27,083,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dunhill Financial LLC grew its position in General Dynamics by 620.0% during the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after buying an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in General Dynamics during the third quarter worth approximately $25,000. Dagco Inc. acquired a new stake in General Dynamics during the fourth quarter worth approximately $25,000. Burkett Financial Services LLC grew its position in General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after buying an additional 65 shares in the last quarter. Finally, Steph & Co. grew its position in General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after buying an additional 30 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Down 0.9%

Shares of GD opened at $340.13 on Wednesday. The company has a market capitalization of $91.98 billion, a PE ratio of 21.41, a PEG ratio of 2.13 and a beta of 0.34. General Dynamics Corporation has a 12 month low of $268.10 and a 12 month high of $369.70. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average price is $342.75 and its two-hundred day moving average price is $346.58.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.66 EPS. On average, analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were paid a $1.59 dividend. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.50. General Dynamics’s dividend payout ratio (DPR) is presently 40.03%.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 32,918 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total value of $11,655,934.62. Following the transaction, the chief executive officer directly owned 766,457 shares of the company’s stock, valued at $271,394,759.13. The trade was a 4.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total value of $1,350,016.50. Following the completion of the transaction, the executive vice president directly owned 44,767 shares in the company, valued at $15,825,134.50. This represents a 7.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 119,600 shares of company stock valued at $41,650,580 in the last ninety days. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank Of Canada reissued a “sector perform” rating and issued a $385.00 target price on shares of General Dynamics in a report on Thursday, April 30th. Wall Street Zen raised General Dynamics from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. Jefferies Financial Group reduced their target price on General Dynamics from $385.00 to $380.00 and set a “hold” rating on the stock in a report on Tuesday, April 7th. Argus raised their target price on General Dynamics from $380.00 to $395.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $387.40.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.