Mutual of America Capital Management LLC Sells 1,403 Shares of General Dynamics Corporation (NYSE:GD)

Mutual of America Capital Management LLC cut its holdings in shares of General Dynamics Corporation (NYSE:GD) by 4.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,467 shares of the aerospace company’s stock after selling 1,403 shares during the quarter. Mutual of America Capital Management LLC’s holdings in General Dynamics were worth $8,032,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GD. Retirement Guys Formula LLC bought a new stake in shares of General Dynamics in the 1st quarter valued at about $1,692,000. Advisory Resource Group grew its stake in General Dynamics by 7.1% in the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company’s stock valued at $5,234,000 after buying an additional 1,276 shares during the last quarter. Mission Wealth Management LP grew its stake in General Dynamics by 18.9% in the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company’s stock valued at $4,401,000 after buying an additional 2,568 shares during the last quarter. Matrix Asset Advisors Inc. NY grew its stake in General Dynamics by 31.6% in the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company’s stock valued at $9,171,000 after buying an additional 8,073 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its stake in General Dynamics by 11.5% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company’s stock valued at $4,504,000 after buying an additional 1,704 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GD. Morgan Stanley decreased their price target on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Robert W. Baird increased their target price on shares of General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Cowen restated a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. Barclays increased their target price on shares of General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Finally, Argus set a $295.00 target price on shares of General Dynamics in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $315.78.

Insider Activity at General Dynamics

In related news, EVP Mark Lagrand Burns sold 43,860 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.28, for a total value of $13,696,600.80. Following the completion of the transaction, the executive vice president owned 39,875 shares of the company’s stock, valued at $12,452,165. This represents a 52.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leon Rudy F. De sold 5,490 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the completion of the transaction, the director directly owned 5,483 shares of the company’s stock, valued at approximately $1,715,137.23. The trade was a 50.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 268,370 shares of company stock valued at $78,408,011 in the last quarter. Insiders own 1.50% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $315.12 on Thursday. The company has a market cap of $84.76 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.92 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $293.32 and a 200 day simple moving average of $274.85. General Dynamics Corporation has a one year low of $239.20 and a one year high of $322.50.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.26 EPS. Research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. General Dynamics’s payout ratio is 40.27%.

General Dynamics 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.