American Asset Management Inc. Buys New Stake in General Dynamics Co. (GD)

American Asset Management Inc. bought a new stake in shares of General Dynamics Co. (NYSE:GD) in the 1st quarter, Holdings Channel reports. The firm bought 1,185 shares of the aerospace company’s stock, valued at approximately $201,000.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc boosted its stake in General Dynamics by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 20,905,951 shares of the aerospace company’s stock valued at $4,279,866,000 after acquiring an additional 357,032 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in General Dynamics by 14,601.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,581,635 shares of the aerospace company’s stock valued at $61,000 after buying an additional 9,516,460 shares during the period. Matthew Goff Investment Advisor LLC grew its stake in shares of General Dynamics by 18,540.8% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 4,959,204 shares of the aerospace company’s stock worth $26,604,000 after purchasing an additional 4,932,600 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of General Dynamics by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock worth $551,080,000 after purchasing an additional 193,294 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of General Dynamics by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,914,278 shares of the aerospace company’s stock worth $391,891,000 after purchasing an additional 29,753 shares during the last quarter. Institutional investors and hedge funds own 87.26% of the company’s stock.

Shares of NYSE:GD traded down $3.25 during midday trading on Monday, reaching $171.68. 15,077 shares of the company traded hands, compared to its average volume of 1,230,353. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.83 and a current ratio of 1.23. General Dynamics Co. has a 12 month low of $143.87 and a 12 month high of $229.74. The firm has a market cap of $50.51 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.59 and a beta of 1.12.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.98 by $0.09. The firm had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.34 billion. General Dynamics had a return on equity of 28.33% and a net margin of 9.24%. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 EPS. Equities analysts predict that General Dynamics Co. will post 11.72 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. General Dynamics’s dividend payout ratio (DPR) is 35.73%.

Several analysts recently commented on GD shares. Jefferies Financial Group cut shares of General Dynamics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $197.00 to $164.00 in a report on Tuesday, January 8th. Zacks Investment Research raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Citigroup dropped their target price on shares of General Dynamics from $195.00 to $175.00 and set a “neutral” rating on the stock in a research report on Monday, January 14th. Credit Suisse Group reaffirmed a “buy” rating and set a $190.00 target price on shares of General Dynamics in a research report on Monday, January 14th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $230.00 price target on shares of General Dynamics in a research note on Monday, February 4th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. General Dynamics has an average rating of “Hold” and an average target price of $204.43.

In other news, VP Gary L. Whited sold 14,640 shares of General Dynamics stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $165.38, for a total value of $2,421,163.20. Following the sale, the vice president now directly owns 30,462 shares of the company’s stock, valued at $5,037,805.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher J. Brady sold 2,327 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $171.23, for a total value of $398,452.21. Following the sale, the vice president now directly owns 5,134 shares in the company, valued at $879,094.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,547 shares of company stock valued at $3,609,299. 7.10% of the stock is owned by corporate insiders.

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About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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