California Public Employees Retirement System Increases Stake in General Dynamics Co. (NYSE:GD)

California Public Employees Retirement System grew its position in General Dynamics Co. (NYSE:GD) by 16.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 943,412 shares of the aerospace company’s stock after acquiring an additional 136,495 shares during the quarter. California Public Employees Retirement System owned about 0.35% of General Dynamics worth $244,976,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Investment Advisors LLC increased its stake in General Dynamics by 14.5% in the 3rd quarter. Capital Investment Advisors LLC now owns 9,022 shares of the aerospace company’s stock worth $1,993,000 after buying an additional 1,144 shares during the period. Impact Partnership Wealth LLC increased its stake in General Dynamics by 411.5% in the 3rd quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock worth $29,000 after buying an additional 107 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. purchased a new position in General Dynamics in the 3rd quarter worth about $213,000. Perennial Advisors LLC increased its stake in General Dynamics by 1.0% in the 3rd quarter. Perennial Advisors LLC now owns 22,296 shares of the aerospace company’s stock worth $4,927,000 after buying an additional 220 shares during the period. Finally, GHP Investment Advisors Inc. increased its stake in General Dynamics by 6.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 19,668 shares of the aerospace company’s stock worth $4,780,000 after buying an additional 1,112 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In related news, EVP Mark C. Roualet sold 73,330 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the completion of the sale, the executive vice president now owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the sale, the chief executive officer now owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark C. Roualet sold 73,330 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the sale, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

GD traded up $2.26 during trading on Tuesday, reaching $293.57. 98,791 shares of the company’s stock were exchanged, compared to its average volume of 1,053,664. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92. The stock has a market capitalization of $80.55 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 1.83 and a beta of 0.68. The company’s fifty day simple moving average is $279.51 and its 200-day simple moving average is $260.57. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $296.50.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.04). The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.39 billion. General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. General Dynamics’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $3.58 earnings per share. As a group, research analysts predict that General Dynamics Co. will post 14.57 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.93%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s payout ratio is 47.25%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of General Dynamics from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Citigroup increased their target price on shares of General Dynamics from $283.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Barclays increased their target price on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Susquehanna increased their target price on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Finally, UBS Group raised their price target on shares of General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $283.80.

General Dynamics Company 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.