Cullinan Associates Inc. Takes $728,000 Position in General Dynamics Co. (NYSE:GD)

Cullinan Associates Inc. purchased a new stake in shares of General Dynamics Co. (NYSE:GDFree Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 2,578 shares of the aerospace company’s stock, valued at approximately $728,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC increased its position in shares of General Dynamics by 930.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 29,890 shares of the aerospace company’s stock worth $6,605,000 after purchasing an additional 26,989 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in General Dynamics in the third quarter worth about $16,077,000. Truist Financial Corp raised its stake in General Dynamics by 2.1% during the third quarter. Truist Financial Corp now owns 315,958 shares of the aerospace company’s stock valued at $69,817,000 after buying an additional 6,384 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in General Dynamics by 28.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 13,728 shares of the aerospace company’s stock worth $3,034,000 after buying an additional 3,003 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of General Dynamics by 8.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,328,320 shares of the aerospace company’s stock worth $294,105,000 after acquiring an additional 101,604 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Down 0.7 %

NYSE GD opened at $285.84 on Wednesday. The firm’s 50 day moving average price is $294.20 and its two-hundred day moving average price is $278.32. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. General Dynamics Co. has a twelve month low of $211.94 and a twelve month high of $302.75. The stock has a market cap of $78.42 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 1.65 and a beta of 0.60.

General Dynamics (NYSE:GDGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.64 earnings per share. Equities analysts anticipate that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada reduced their price objective on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company lifted their price target on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Sanford C. Bernstein upped their target price 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, Argus boosted their price objective on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $305.56.

Check Out Our Latest Report on General Dynamics

Insider Buying and Selling at General Dynamics

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

General Dynamics Profile

(Free Report)

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.

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

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