Sky Investment Group LLC reduced its position in shares of General Dynamics Co. (NYSE:GD – Get Rating) by 0.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,896 shares of the aerospace company’s stock after selling 110 shares during the period. Sky Investment Group LLC’s holdings in General Dynamics were worth $2,869,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of GD. Costello Asset Management INC bought a new stake in General Dynamics during the 4th quarter worth about $26,000. Future Financial Wealth Managment LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $29,000. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $29,000. Wagner Wealth Management LLC raised its position in General Dynamics by 71.6% in the 4th quarter. Wagner Wealth Management LLC now owns 139 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 58 shares during the last quarter. Finally, Tyler Stone Wealth Management bought a new stake in shares of General Dynamics during the fourth quarter worth $31,000. 85.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GD stock traded down $1.22 during trading on Thursday, reaching $214.79. The company’s stock had a trading volume of 9,658 shares, compared to its average volume of 1,230,762. General Dynamics Co. has a one year low of $182.66 and a one year high of $254.99. The business has a fifty day moving average price of $228.92 and a 200-day moving average price of $223.15. The company has a market cap of $59.65 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.81 and a beta of 0.95. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.58.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 5th. Stockholders of record on Friday, July 1st will be paid a dividend of $1.26 per share. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $5.04 annualized dividend and a dividend yield of 2.35%. General Dynamics’s dividend payout ratio is currently 43.15%.
In related news, VP Gregory S. Gallopoulos sold 10,644 shares of the company’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $237.93, for a total value of $2,532,526.92. Following the transaction, the vice president now owns 124,605 shares in the company, valued at approximately $29,647,267.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is owned by insiders.
A number of brokerages have issued reports on GD. Morgan Stanley raised their price objective on shares of General Dynamics from $215.00 to $243.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 2nd. Wells Fargo & Company lifted their price objective on General Dynamics from $235.00 to $282.00 and gave the stock an “overweight” rating in a research note on Monday, March 7th. Susquehanna increased their target price on General Dynamics from $280.00 to $285.00 in a research note on Thursday, April 28th. Susquehanna Bancshares boosted their target price on General Dynamics from $280.00 to $285.00 in a research report on Thursday, April 28th. Finally, StockNews.com began coverage on shares of General Dynamics in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.
General Dynamics Profile (Get Rating)
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 designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.
- Get a free copy of the StockNews.com research report on General Dynamics (GD)
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