State of Michigan Retirement System Has $10.89 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

State of Michigan Retirement System trimmed its position in shares of General Dynamics Co. (NYSE:GD) by 0.5% during the first quarter, HoldingsChannel.com reports. The firm owned 60,002 shares of the aerospace company’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in General Dynamics were worth $10,894,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GD. Hendershot Investments Inc. raised its position in shares of General Dynamics by 49.3% during the first quarter. Hendershot Investments Inc. now owns 47,185 shares of the aerospace company’s stock worth $8,567,000 after acquiring an additional 15,591 shares during the last quarter. DDD Partners LLC increased its holdings in General Dynamics by 1.7% in the first quarter. DDD Partners LLC now owns 55,538 shares of the aerospace company’s stock worth $10,083,000 after purchasing an additional 933 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in General Dynamics by 1.9% in the first quarter. Jones Financial Companies Lllp now owns 54,749 shares of the aerospace company’s stock worth $9,940,000 after purchasing an additional 1,047 shares in the last quarter. MUFG Americas Holdings Corp increased its holdings in General Dynamics by 2.1% in the first quarter. MUFG Americas Holdings Corp now owns 3,818 shares of the aerospace company’s stock worth $693,000 after purchasing an additional 80 shares in the last quarter. Finally, Intrua Financial LLC increased its holdings in General Dynamics by 66.0% in the first quarter. Intrua Financial LLC now owns 4,162 shares of the aerospace company’s stock worth $774,000 after purchasing an additional 1,655 shares in the last quarter. 84.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE GD opened at $191.54 on Wednesday. General Dynamics Co. has a one year low of $129.11 and a one year high of $197.51. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.29 and a quick ratio of 0.90. The business’s fifty day moving average price is $185.24 and its 200-day moving average price is $162.31. The stock has a market capitalization of $54.13 billion, a PE ratio of 17.38, a P/E/G ratio of 2.40 and a beta of 1.03.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 28th. The aerospace company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.17. General Dynamics had a return on equity of 23.00% and a net margin of 8.33%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the previous year, the company posted $2.43 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts expect that General Dynamics Co. will post 11.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 7th. Investors of record on Friday, April 9th were paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Thursday, April 8th. General Dynamics’s payout ratio is presently 39.73%.

A number of equities research analysts have weighed in on GD shares. Credit Suisse Group lifted their target price on General Dynamics from $154.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, May 5th. Morgan Stanley boosted their price objective on General Dynamics from $149.00 to $163.00 and gave the company an “underweight” rating in a report on Wednesday, May 5th. Argus upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Friday, May 7th. Zacks Investment Research downgraded General Dynamics from a “hold” rating to a “sell” rating and set a $196.00 price objective for the company. in a report on Wednesday, April 7th. Finally, Barclays reaffirmed a “buy” rating on shares of General Dynamics in a research report on Friday, April 2nd. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $187.19.

General Dynamics Profile

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

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

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