Sawgrass Asset Management LLC Sells 290 Shares of General Dynamics Co. (NYSE:GD)

Sawgrass Asset Management LLC cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,112 shares of the aerospace company’s stock after selling 290 shares during the quarter. Sawgrass Asset Management LLC’s holdings in General Dynamics were worth $1,068,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GD. Regent Peak Wealth Advisors LLC increased its position in General Dynamics by 0.4% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock valued at $2,812,000 after purchasing an additional 41 shares during the period. Cornercap Investment Counsel Inc. boosted its position in General Dynamics by 0.4% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 10,377 shares of the aerospace company’s stock valued at $2,695,000 after acquiring an additional 41 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of General Dynamics by 6.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 687 shares of the aerospace company’s stock valued at $152,000 after acquiring an additional 42 shares during the period. Raleigh Capital Management Inc. raised its position in shares of General Dynamics by 2.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,846 shares of the aerospace company’s stock worth $408,000 after acquiring an additional 42 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its position in General Dynamics by 3.3% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,304 shares of the aerospace company’s stock valued at $339,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

GD has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective for the company. in a research report on Monday, January 29th. Susquehanna boosted their price target on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. UBS Group increased their price objective on shares of General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada cut their price target on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $300.53.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the completion of the sale, the director now owns 5,518 shares of the company’s stock, valued at approximately $1,589,184. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares in the company, valued at $218,773,956.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,987 shares of company stock valued at $18,836,700. 1.60% of the stock is owned by company insiders.

General Dynamics Stock Performance

Shares of GD stock traded down $0.63 on Wednesday, hitting $292.74. The company had a trading volume of 1,004,929 shares, compared to its average volume of 1,107,900. The firm has a market cap of $80.32 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 1.80 and a beta of 0.67. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $296.50. The company has a 50-day moving average price of $283.23 and a 200-day moving average price of $264.48. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the prior year, the company posted $2.64 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.94%. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio is presently 46.33%.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.