Retirement Systems of Alabama Has $32.97 Million Holdings in General Dynamics Corporation (GD)
Retirement Systems of Alabama reduced its stake in shares of General Dynamics Corporation (NYSE:GD) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,392 shares of the aerospace company’s stock after selling 1,879 shares during the quarter. Retirement Systems of Alabama owned about 0.05% of General Dynamics Corporation worth $32,973,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of GD. Homrich & Berg increased its stake in General Dynamics Corporation by 50.7% during the first quarter. Homrich & Berg now owns 2,095 shares of the aerospace company’s stock worth $392,000 after acquiring an additional 705 shares during the last quarter. Teachers Advisors LLC increased its stake in General Dynamics Corporation by 92.8% during the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock worth $108,300,000 after acquiring an additional 278,394 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in General Dynamics Corporation by 59.6% during the first quarter. TIAA CREF Investment Management LLC now owns 1,809,357 shares of the aerospace company’s stock worth $338,712,000 after acquiring an additional 675,324 shares during the last quarter. Twin Tree Management LP bought a new stake in General Dynamics Corporation during the first quarter worth approximately $2,719,000. Finally, Royce & Associates LP increased its stake in General Dynamics Corporation by 48.5% during the first quarter. Royce & Associates LP now owns 24,500 shares of the aerospace company’s stock worth $4,586,000 after acquiring an additional 8,000 shares during the last quarter. 85.79% of the stock is currently owned by institutional investors.
Shares of General Dynamics Corporation (NYSE GD) traded up $0.90 during midday trading on Monday, hitting $199.77. The company had a trading volume of 929,800 shares, compared to its average volume of 1,154,326. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $59,647.91, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 2.39 and a beta of 0.73. General Dynamics Corporation has a 12-month low of $164.09 and a 12-month high of $214.81.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The firm had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.94 billion. General Dynamics Corporation had a return on equity of 27.98% and a net margin of 9.94%. General Dynamics Corporation’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 earnings per share. equities research analysts anticipate that General Dynamics Corporation will post 9.81 earnings per share for the current year.
In other General Dynamics Corporation news, insider John Patrick Casey sold 34,945 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the completion of the sale, the insider now owns 144,378 shares in the company, valued at $29,074,841.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.
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A number of research firms have recently commented on GD. Stifel Nicolaus upped their target price on General Dynamics Corporation from $200.00 to $210.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research cut General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Deutsche Bank AG reaffirmed a “hold” rating and set a $210.00 target price (up previously from $200.00) on shares of General Dynamics Corporation in a research note on Monday, October 2nd. ValuEngine raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $217.19.
About General Dynamics Corporation
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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