General Dynamics Corporation $GD Holdings Decreased by U S Global Investors Inc.

U S Global Investors Inc. reduced its position in shares of General Dynamics Corporation (NYSE:GD) by 22.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,097 shares of the aerospace company’s stock after selling 10,683 shares during the period. General Dynamics comprises approximately 1.4% of U S Global Investors Inc.’s holdings, making the stock its 21st largest holding. U S Global Investors Inc.’s holdings in General Dynamics were worth $12,389,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of General Dynamics by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after buying an additional 528,769 shares during the last quarter. Jain Global LLC grew its position in shares of General Dynamics by 97.8% during the 3rd quarter. Jain Global LLC now owns 169,305 shares of the aerospace company’s stock valued at $57,733,000 after buying an additional 83,692 shares during the last quarter. M&T Bank Corp raised its stake in General Dynamics by 155.6% during the fourth quarter. M&T Bank Corp now owns 104,773 shares of the aerospace company’s stock worth $35,273,000 after acquiring an additional 63,781 shares during the period. Financial Planning Hawaii Inc. acquired a new stake in General Dynamics during the fourth quarter worth about $1,103,000. Finally, Jefferies Financial Group Inc. bought a new position in General Dynamics in the fourth quarter worth about $7,914,000. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $385.00 price target on shares of General Dynamics in a report on Thursday, April 30th. Wells Fargo & Company began coverage on General Dynamics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price objective for the company. The Goldman Sachs Group lowered their price objective on General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $391.15.

Insiders Place Their Bets

In related news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the sale, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director directly owned 10,643 shares of the company’s stock, valued at $3,884,695. The trade was a 33.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,190 shares of company stock valued at $27,041,022 in the last quarter. 1.40% of the stock is currently owned by insiders.

General Dynamics Stock Performance

NYSE GD traded down $0.09 on Friday, hitting $374.51. The stock had a trading volume of 1,008,554 shares, compared to its average volume of 1,289,890. The company’s 50-day moving average is $350.54 and its two-hundred day moving average is $349.63. General Dynamics Corporation has a one year low of $293.95 and a one year high of $380.71. The stock has a market cap of $101.28 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 2.26 and a beta of 0.34. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.66 earnings per share. On average, analysts expect that General Dynamics Corporation will post 16.64 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.7%. General Dynamics’s payout ratio is presently 40.03%.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.