General Dynamics Co. (GD) Shares Sold by Supplemental Annuity Collective Trust of NJ

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Supplemental Annuity Collective Trust of NJ reduced its position in General Dynamics Co. (NYSE:GD) by 40.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,000 shares of the aerospace company’s stock after selling 2,000 shares during the quarter. Supplemental Annuity Collective Trust of NJ’s holdings in General Dynamics were worth $508,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GD. Oregon Public Employees Retirement Fund increased its holdings in General Dynamics by 14,601.4% in the fourth 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 last quarter. Ellis Investment Partners LLC increased its holdings in General Dynamics by 16,833.7% in the first quarter. Ellis Investment Partners LLC now owns 960,820 shares of the aerospace company’s stock valued at $960,000 after buying an additional 955,146 shares during the last quarter. Vanguard Group Inc increased its holdings in General Dynamics by 1.7% in the third quarter. Vanguard Group Inc now owns 20,905,951 shares of the aerospace company’s stock valued at $4,279,866,000 after buying an additional 357,032 shares during the last quarter. California Public Employees Retirement System increased its holdings in General Dynamics by 35.1% in the fourth quarter. California Public Employees Retirement System now owns 1,172,516 shares of the aerospace company’s stock valued at $184,331,000 after buying an additional 304,454 shares during the last quarter. Finally, Ceredex Value Advisors LLC bought a new stake in General Dynamics in the fourth quarter valued at about $41,069,000. 87.25% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on GD shares. Zacks Investment Research downgraded General Dynamics from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. UBS Group lifted their target price on General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Cowen restated a “buy” rating and issued a $202.00 target price on shares of General Dynamics in a research note on Wednesday, April 24th. JPMorgan Chase & Co. upgraded General Dynamics from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $188.00 to $200.00 in a research note on Thursday, April 25th. They noted that the move was a valuation call. Finally, Drexel Hamilton restated a “buy” rating and issued a $230.00 target price on shares of General Dynamics in a research note on Monday, February 4th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $198.43.

In other General Dynamics news, EVP John Patrick Casey sold 45,470 shares of the company’s stock in a transaction on Monday, April 15th. The stock was 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 owns 148,133 shares of the company’s stock, valued at $25,547,017.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher J. Brady sold 2,327 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $171.23, for a total value of $398,452.21. Following the completion of the transaction, the vice president now directly owns 5,134 shares in the company, valued at approximately $879,094.82. The disclosure for this sale can be found here. Insiders sold 67,017 shares of company stock valued at $11,451,055 over the last 90 days. 7.10% of the stock is currently owned by insiders.

Shares of NYSE GD traded up $1.14 during midday trading on Friday, hitting $175.71. 10,445 shares of the company’s stock were exchanged, compared to its average volume of 1,386,511. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 0.94. The company has a market cap of $50.86 billion, a PE ratio of 15.43, a P/E/G ratio of 1.71 and a beta of 1.13. General Dynamics Co. has a twelve month low of $143.87 and a twelve month high of $208.88.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.18. The business had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $8.90 billion. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.65 earnings per share. Sell-side analysts forecast that General Dynamics Co. will post 11.74 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.32%. This is an increase from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio is 35.73%.

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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: 12b-1 Fees

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

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