General Dynamics Co. (NYSE:GD) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its holdings in General Dynamics Co. (NYSE:GD) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,316 shares of the aerospace company’s stock after selling 935 shares during the quarter. King Luther Capital Management Corp’s holdings in General Dynamics were worth $6,574,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC acquired a new position in General Dynamics in the fourth quarter worth approximately $25,000. Briaud Financial Planning Inc purchased a new position in General Dynamics during the 3rd quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new position in General Dynamics during the 4th quarter worth approximately $38,000. Wetzel Investment Advisors Inc. purchased a new position in General Dynamics during the 4th quarter worth approximately $38,000. Finally, Operose Advisors LLC purchased a new position in General Dynamics during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

GD has been the topic of several research analyst reports. Royal Bank of Canada lowered their price objective on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Susquehanna lifted their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. Argus lifted their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the company from $305.00 to $335.00 in a research note on Monday, April 29th. Finally, StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $300.53.

Insider Transactions at General Dynamics

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $29,816,065.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $29,816,065.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,486 shares of company stock worth $34,391,642. 1.52% of the stock is currently owned by company insiders.

General Dynamics Stock Up 0.0 %

Shares of GD stock traded up $0.10 on Thursday, hitting $298.11. The company’s stock had a trading volume of 123,235 shares, compared to its average volume of 1,076,640. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. General Dynamics Co. has a fifty-two week low of $202.35 and a fifty-two week high of $301.48. The firm’s fifty day moving average price is $288.18 and its 200-day moving average price is $268.64. The stock has a market capitalization of $81.79 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 1.69 and a beta of 0.67.

General Dynamics (NYSE:GD) last released 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 business had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.64 EPS. Research analysts anticipate that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 12th were given a dividend of $1.42 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.91%. General Dynamics’s payout ratio is currently 46.33%.

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.