Sequoia Financial Advisors LLC cut its stake in General Dynamics Co. (NYSE:GD) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,300 shares of the aerospace company’s stock after selling 54 shares during the period. Sequoia Financial Advisors LLC’s holdings in General Dynamics were worth $243,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in General Dynamics by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock valued at $108,000 after buying an additional 4 shares during the period. First Command Bank bought a new position in General Dynamics during the fourth quarter valued at $125,000. Pinnacle Bank bought a new position in General Dynamics during the first quarter valued at $126,000. Archford Capital Strategies LLC boosted its position in General Dynamics by 74.2% in the fourth quarter. Archford Capital Strategies LLC now owns 810 shares of the aerospace company’s stock valued at $139,000 after buying an additional 345 shares during the period. Finally, Norway Savings Bank bought a new position in General Dynamics during the fourth quarter valued at $157,000. Hedge funds and other institutional investors own 87.35% of the company’s stock.
Shares of General Dynamics Co. (NYSE:GD) opened at 195.87 on Friday. The firm’s 50-day moving average is $191.51 and its 200-day moving average is $181.85. The firm has a market cap of $59.11 billion, a price-to-earnings ratio of 19.64 and a beta of 0.75. General Dynamics Co. has a 12-month low of $132.68 and a 12-month high of $197.00.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 26th. The aerospace company reported $2.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.16. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.70 billion. General Dynamics had a net margin of 9.42% and a return on equity of 27.92%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 earnings per share. Analysts predict that General Dynamics Co. will post $9.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 5th. Investors of record on Friday, April 7th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Wednesday, April 5th. This is an increase from General Dynamics’s previous quarterly dividend of $0.76. General Dynamics’s dividend payout ratio (DPR) is currently 31.90%.
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Several research analysts recently weighed in on the stock. Vetr upgraded shares of General Dynamics from a “sell” rating to a “hold” rating and set a $183.78 price objective for the company in a research report on Monday, March 27th. Cowen and Company restated an “outperform” rating and issued a $207.00 price objective on shares of General Dynamics in a research report on Monday, April 17th. Royal Bank of Canada boosted their price objective on shares of General Dynamics from $211.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Zacks Investment Research upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Friday, April 7th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $220.00 price objective (up previously from $200.00) on shares of General Dynamics in a research report on Friday, April 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. General Dynamics presently has an average rating of “Buy” and a consensus target price of $198.98.
In related news, VP Mark Lagrand Burns sold 19,075 shares of General Dynamics stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $187.89, for a total transaction of $3,584,001.75. Following the completion of the transaction, the vice president now owns 48,453 shares of the company’s stock, valued at $9,103,834.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider S. Daniel Johnson sold 5,219 shares of General Dynamics stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $189.31, for a total transaction of $988,008.89. Following the transaction, the insider now directly owns 65,243 shares of the company’s stock, valued at approximately $12,351,152.33. The disclosure for this sale can be found here. Insiders have sold 44,300 shares of company stock valued at $8,366,195 in the last three months. 6.80% of the stock is owned by insiders.
About General Dynamics
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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