Alpine Woods Capital Investors LLC lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,900 shares of the aerospace company’s stock after selling 200 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in General Dynamics were worth $1,168,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in General Dynamics in the 4th quarter worth approximately $25,000. Harvest Group Wealth Management LLC bought a new stake in General Dynamics in the 1st quarter worth approximately $28,000. We Are One Seven LLC bought a new stake in General Dynamics in the 4th quarter worth approximately $27,000. Aspire Private Capital LLC bought a new stake in General Dynamics in the 4th quarter worth approximately $29,000. Finally, CX Institutional bought a new stake in General Dynamics in the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 87.16% of the company’s stock.
Shares of General Dynamics stock opened at $168.49 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.82 and a current ratio of 1.23. The company has a market capitalization of $50.00 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.65 and a beta of 1.13. General Dynamics Co. has a one year low of $143.87 and a one year high of $208.88.
The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 12th were paid a $1.02 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. This represents a $4.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, April 11th. General Dynamics’s payout ratio is 35.73%.
In other news, Director Lester L. Lyles sold 4,580 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $172.42, for a total transaction of $789,683.60. Following the transaction, the director now directly owns 12,314 shares of the company’s stock, valued at $2,123,179.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Patrick Casey sold 45,470 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $172.46, for a total value of $7,841,756.20. Following the transaction, the executive vice president now directly owns 148,133 shares in the company, valued at $25,547,017.18. The disclosure for this sale can be found here. Insiders sold a total of 64,690 shares of company stock worth $11,052,603 over the last ninety days. Insiders own 7.10% of the company’s stock.
A number of analysts recently weighed in on GD shares. Zacks Investment Research downgraded General Dynamics from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Sanford C. Bernstein dropped their target price on General Dynamics from $186.00 to $178.00 and set a “market perform” rating for the company in a research report on Monday, February 4th. Credit Suisse Group downgraded General Dynamics from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $190.00 to $184.00 in a research report on Friday, February 15th. UBS Group boosted their target price on General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Argus cut General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price target on the stock. in a research note on Thursday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. General Dynamics presently has an average rating of “Hold” and an average price target of $198.29.
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General Dynamics Company Profile
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.
Further Reading: Return on Equity (ROE)
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