Norden Group LLC Sells 1,986 Shares of General Dynamics Co. (NYSE:GD)

Norden Group LLC cut its stake in shares of General Dynamics Co. (NYSE:GDFree Report) by 32.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,172 shares of the aerospace company’s stock after selling 1,986 shares during the quarter. Norden Group LLC’s holdings in General Dynamics were worth $1,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GD. Norges Bank bought a new position in shares of General Dynamics in the fourth quarter valued at $728,284,000. Wellington Management Group LLP lifted its stake in shares of General Dynamics by 12.0% in the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after buying an additional 1,755,276 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of General Dynamics by 10,763.2% in the fourth quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock valued at $239,829,000 after buying an additional 915,091 shares in the last quarter. Verity & Verity LLC bought a new position in shares of General Dynamics in the first quarter valued at $179,000. Finally, 1832 Asset Management L.P. lifted its stake in shares of General Dynamics by 3,645.4% in the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after buying an additional 543,672 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

GD opened at $281.68 on Friday. The company has a market capitalization of $77.28 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 1.62 and a beta of 0.60. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $294.08 and a 200-day moving average price of $278.84. General Dynamics Co. has a twelve month low of $211.94 and a twelve month high of $302.75.

General Dynamics (NYSE:GDGet Free Report) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share 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%. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.64 EPS. Equities analysts expect that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 2.02%. General Dynamics’s payout ratio is 46.33%.

Insider Transactions at General Dynamics

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Leon Rudy F. De sold 2,570 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were 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 filing with the SEC, which is available through this hyperlink. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Insiders sold 118,486 shares of company stock worth $34,391,642 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research note on Tuesday. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Argus raised their price target on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Barclays raised their price target on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, BTIG Research began coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.56.

Check Out Our Latest Analysis on GD

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.

See Also

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

Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.