Strs Ohio Reduces Position in General Dynamics Corporation $GD

Strs Ohio reduced its stake in General Dynamics Corporation (NYSE:GD) by 3.4% during the 3rd quarter, Holdings Channel reports. The fund owned 59,572 shares of the aerospace company’s stock after selling 2,095 shares during the period. Strs Ohio’s holdings in General Dynamics were worth $20,314,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of General Dynamics during the 3rd quarter worth about $26,000. Louisbourg Investments Inc. purchased a new position in shares of General Dynamics during the third quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC boosted its position in General Dynamics by 80.3% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 110 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 49 shares during the last quarter. NewSquare Capital LLC grew its stake in General Dynamics by 64.7% in the 2nd quarter. NewSquare Capital LLC now owns 112 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 44 shares during the period. Finally, Financial Consulate Inc. acquired a new position in General Dynamics in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of General Dynamics in a research report on Thursday. Citigroup lifted their price target on General Dynamics from $371.00 to $389.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. JPMorgan Chase & Co. increased their price objective on shares of General Dynamics from $380.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Melius Research raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, Bank of America upped their price target on shares of General Dynamics from $370.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.70.

General Dynamics Stock Down 0.6%

Shares of NYSE:GD opened at $363.60 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.40. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $369.70. The stock has a market capitalization of $98.22 billion, a P/E ratio of 23.56, a PEG ratio of 1.79 and a beta of 0.41. The stock has a 50-day simple moving average of $346.14 and a 200-day simple moving average of $333.05.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.69 by $0.19. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The firm had revenue of $12.91 billion for the quarter, compared to analyst estimates of $12.49 billion. During the same quarter last year, the firm posted $3.35 earnings per share. General Dynamics’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, January 16th. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. General Dynamics’s payout ratio is presently 38.89%.

Insider Transactions at General Dynamics

In related news, VP David Paddock sold 20,360 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $334.92, for a total value of $6,818,971.20. Following the completion of the sale, the vice president directly owned 36,644 shares in the company, valued at approximately $12,272,808.48. This represents a 35.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

General Dynamics Profile

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.