Leavell Investment Management Inc. Lowers Stake in General Dynamics Co. (GD)

Leavell Investment Management Inc. cut its stake in shares of General Dynamics Co. (NYSE:GD) by 0.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,242 shares of the aerospace company’s stock after selling 115 shares during the period. Leavell Investment Management Inc.’s holdings in General Dynamics were worth $2,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new position in shares of General Dynamics during the 4th quarter valued at $25,000. We Are One Seven LLC acquired a new position in shares of General Dynamics during the 4th quarter valued at $27,000. Aspire Private Capital LLC acquired a new position in shares of General Dynamics during the 4th quarter valued at $29,000. CX Institutional acquired a new position in shares of General Dynamics during the 1st quarter valued at $45,000. Finally, Athena Capital Advisors LLC acquired a new position in General Dynamics in the 4th quarter worth $46,000. 87.27% of the stock is owned by institutional investors.

Several equities analysts have recently commented on GD shares. Zacks Investment Research cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Cowen reaffirmed a “buy” rating on shares of General Dynamics in a research report on Wednesday, March 6th. Drexel Hamilton reaffirmed a “buy” rating and set a $230.00 price target on shares of General Dynamics in a research report on Monday, February 4th. ValuEngine cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Saturday, February 2nd. Finally, Argus cut shares of General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price target on the stock. in a research report on Thursday, January 31st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $204.43.

In related news, Director Lester L. Lyles sold 4,580 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $172.42, for a total value of $789,683.60. Following the completion of the transaction, the director now owns 12,314 shares of the company’s stock, valued at approximately $2,123,179.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher J. Brady sold 2,327 shares of General Dynamics stock in a transaction on Monday, February 4th. The shares were sold at an average price of $171.23, for a total transaction of $398,452.21. Following the sale, the vice president now directly owns 5,134 shares of the company’s stock, valued at approximately $879,094.82. The disclosure for this sale can be found here. Insiders sold a total of 21,547 shares of company stock valued at $3,609,299 in the last ninety days. Company insiders own 7.10% of the company’s stock.

Shares of NYSE:GD opened at $173.74 on Wednesday. General Dynamics Co. has a 1-year low of $143.87 and a 1-year high of $229.74. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 0.98. The company has a market cap of $49.67 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.60 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 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.09. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The firm had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter last year, the business posted $2.50 EPS. The company’s revenue was up 25.4% on a year-over-year basis. As a group, sell-side analysts anticipate that General Dynamics Co. will post 11.72 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a $1.02 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $4.08 dividend on an annualized basis and a yield of 2.35%. General Dynamics’s dividend payout ratio (DPR) is currently 35.73%.

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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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