Texas Permanent School Fund Corp Acquires 165 Shares of General Dynamics Co. (NYSE:GD)

Texas Permanent School Fund Corp boosted its holdings in General Dynamics Co. (NYSE:GD) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,934 shares of the aerospace company’s stock after buying an additional 165 shares during the quarter. Texas Permanent School Fund Corp’s holdings in General Dynamics were worth $13,258,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in General Dynamics by 8.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the aerospace company’s stock worth $837,000 after purchasing an additional 238 shares during the last quarter. Signaturefd LLC raised its holdings in General Dynamics by 3.2% during the 1st quarter. Signaturefd LLC now owns 4,707 shares of the aerospace company’s stock worth $1,330,000 after purchasing an additional 147 shares during the last quarter. FDx Advisors Inc. grew its position in shares of General Dynamics by 26.5% during the 1st quarter. FDx Advisors Inc. now owns 2,830 shares of the aerospace company’s stock worth $799,000 after buying an additional 592 shares during the period. Gold Investment Management Ltd. grew its position in shares of General Dynamics by 2.0% during the 1st quarter. Gold Investment Management Ltd. now owns 5,825 shares of the aerospace company’s stock worth $1,646,000 after buying an additional 116 shares during the period. Finally, Catalina Capital Group LLC acquired a new stake in shares of General Dynamics during the 1st quarter worth approximately $238,000. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GD. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Sanford C. Bernstein raised their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Royal Bank of Canada reduced their price objective on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. lifted their price target on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, Citigroup lifted their price target on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.56.

General Dynamics Stock Performance

Shares of NYSE GD traded down $0.17 during mid-day trading on Friday, reaching $283.98. 21,997 shares of the company’s stock were exchanged, compared to its average volume of 1,046,547. The firm has a market capitalization of $77.91 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 1.61 and a beta of 0.60. General Dynamics Co. has a 52 week low of $212.58 and a 52 week high of $302.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The firm has a 50-day moving average price of $293.62 and a two-hundred day moving average price of $279.64.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter in the prior year, the firm posted $2.64 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Analysts predict that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Activity

In other 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 transaction of $3,914,215.17. Following the sale, the vice president now directly owns 103,345 shares in the company, valued at $29,816,065.95. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Leon Rudy F. De sold 2,570 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $288.00, for a total transaction of $740,160.00. Following the completion of the transaction, the director now owns 5,518 shares of the company’s stock, valued at $1,589,184. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the business’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 transaction, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Insiders have sold a total of 118,486 shares of company stock worth $34,391,642 over the last ninety days. Company insiders own 1.52% of the company’s stock.

General Dynamics Company Profile

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.