State of Alaska Department of Revenue Sells 755 Shares of General Dynamics Co. (NYSE:GD)

State of Alaska Department of Revenue cut its stake in shares of General Dynamics Co. (NYSE:GD) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,701 shares of the aerospace company’s stock after selling 755 shares during the quarter. State of Alaska Department of Revenue’s holdings in General Dynamics were worth $9,519,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC bought a new stake in General Dynamics in the 4th quarter worth about $25,000. Richardson Financial Services Inc. purchased a new position in General Dynamics in the fourth quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics in the first quarter worth about $29,000. Legend Financial Advisors Inc. boosted its position in General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 36 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new position in General Dynamics in the fourth quarter worth about $33,000. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GD shares. Royal Bank of Canada lowered their price objective on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Barclays boosted their target price on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Susquehanna boosted their price objective on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Sanford C. Bernstein boosted their price objective on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Finally, Wells Fargo & Company boosted their price objective on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.56.

General Dynamics Price Performance

Shares of NYSE:GD traded down $0.94 during trading on Wednesday, reaching $284.87. The stock had a trading volume of 656,719 shares, compared to its average volume of 1,056,769. General Dynamics Co. has a 1-year low of $211.94 and a 1-year high of $302.75. The stock has a market cap of $78.16 billion, a PE ratio of 23.41, a PEG ratio of 1.65 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. The business has a fifty day moving average price of $294.07 and a 200-day moving average price of $278.55.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the previous year, the business posted $2.64 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that General Dynamics Co. will post 14.56 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $1.42 dividend. The ex-dividend date is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.99%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Activity at General Dynamics

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William A. Moss sold 21,050 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $294.85, for a total value of $6,206,592.50. Following the transaction, the vice president now directly owns 16,624 shares of the company’s stock, valued at $4,901,586.40. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock valued at $34,391,642 in the last three months. 1.60% 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.