General Dynamics Co. (NYSE:GD) Holdings Cut by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its stake in shares of General Dynamics Co. (NYSE:GDFree Report) by 18.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,175 shares of the aerospace company’s stock after selling 8,745 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in General Dynamics were worth $11,067,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. MeadowBrook Investment Advisors LLC acquired a new position in shares of General Dynamics during the fourth quarter valued at $25,000. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in shares of General Dynamics during the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in General Dynamics in the 1st quarter worth approximately $29,000. Finally, Legend Financial Advisors Inc. increased its position in General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 36 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 1.1 %

Shares of GD stock opened at $281.68 on Monday. The company has a market capitalization of $77.28 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 1.61 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 stock’s 50 day simple moving average is $294.08 and its 200 day simple moving average is $279.22. 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 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 firm had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. General Dynamics’s quarterly 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. As a group, research analysts predict that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Dividend Announcement

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

Insider Activity at General Dynamics

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the transaction, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the transaction, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now directly 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 a total of 118,486 shares of company stock worth $34,391,642 in the last 90 days. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

GD has been the subject of several recent analyst reports. Citigroup increased their price target on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. 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. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the company from $305.00 to $335.00 in a research note on Monday, April 29th. Sanford C. Bernstein upped their target price on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Finally, The Goldman Sachs Group lifted their price target on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.56.

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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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