Woodstock Corp Trims Stake in General Dynamics Co. (NYSE:GD)


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Woodstock Corp reduced its stake in General Dynamics Co. (NYSE:GD) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,895 shares of the aerospace company’s stock after selling 157 shares during the period. Woodstock Corp’s holdings in General Dynamics were worth $1,797,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GD. Advisory Alpha LLC bought a new position in shares of General Dynamics during the third quarter valued at approximately $26,000. DB Wealth Management Group LLC bought a new position in shares of General Dynamics during the fourth quarter valued at approximately $28,000. Alpha DNA Investment Management LLC acquired a new stake in General Dynamics in the fourth quarter valued at approximately $28,000. Safir Wealth Advisors LLC acquired a new stake in General Dynamics in the fourth quarter valued at approximately $30,000. Finally, Birchcreek Wealth Management LLC acquired a new stake in General Dynamics in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 84.48% of the company’s stock.

Shares of General Dynamics stock traded down $1.07 during trading on Thursday, hitting $183.72. 3,887 shares of the company’s stock were exchanged, compared to its average volume of 1,372,940. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.90 and a current ratio of 1.29. The business has a 50-day simple moving average of $173.49 and a 200-day simple moving average of $154.39. General Dynamics Co. has a 52-week low of $121.67 and a 52-week high of $186.00. The stock has a market capitalization of $52.09 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.40 and a beta of 1.03.

General Dynamics (NYSE:GD) last issued its earnings results on Tuesday, January 26th. The aerospace company reported $3.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.05). General Dynamics had a return on equity of 23.00% and a net margin of 8.33%. The business had revenue of $10.48 billion for the quarter, compared to analysts’ expectations of $10.76 billion. During the same period last year, the business earned $3.51 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts anticipate that General Dynamics Co. will post 11.06 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 7th. Investors of record on Friday, April 9th will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Thursday, April 8th. This is a boost from General Dynamics’s previous quarterly dividend of $1.10. General Dynamics’s dividend payout ratio (DPR) is 36.73%.

Several equities research analysts have weighed in on GD shares. Cowen raised their target price on shares of General Dynamics from $183.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, March 29th. Morgan Stanley lowered their target price on shares of General Dynamics from $161.00 to $149.00 and set an “underweight” rating for the company in a research note on Monday, February 8th. Zacks Investment Research downgraded shares of General Dynamics from a “hold” rating to a “sell” rating and set a $196.00 target price for the company. in a research note on Wednesday. TheStreet upgraded shares of General Dynamics from a “c+” rating to a “b-” rating in a research note on Thursday, December 17th. Finally, Barclays restated a “buy” rating on shares of General Dynamics in a research note on Friday, April 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. General Dynamics presently has a consensus rating of “Hold” and an average target price of $169.06.

About General Dynamics

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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