Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Stock Holdings in General Dynamics Corporation $GD

by · The Cerbat Gem

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in General Dynamics Corporation (NYSE:GDFree Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,973 shares of the aerospace company’s stock after selling 1,655 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in General Dynamics were worth $19,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dunhill Financial LLC increased its position in shares of General Dynamics by 620.0% in the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in shares of General Dynamics in the third quarter worth approximately $25,000. Dagco Inc. bought a new position in shares of General Dynamics in the fourth quarter worth approximately $25,000. Burkett Financial Services LLC increased its position in shares of General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 65 shares during the last quarter. Finally, Steph & Co. increased its position in shares of General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 30 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GD. Citigroup decreased their price objective on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. The Goldman Sachs Group decreased their price objective on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. DA Davidson decreased their price objective on shares of General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Jefferies Financial Group decreased their price objective on shares of General Dynamics from $385.00 to $380.00 and set a “hold” rating on the stock in a research report on Tuesday, April 7th. Finally, BNP Paribas Exane decreased their price objective on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $387.40.

Get Our Latest Report on General Dynamics

Insider Activity

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 32,918 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total value of $11,655,934.62. Following the sale, the chief executive officer directly owned 766,457 shares of the company’s stock, valued at approximately $271,394,759.13. This trade represents a 4.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 119,600 shares of company stock valued at $41,650,580. 1.40% of the stock is currently owned by company insiders.

General Dynamics Stock Down 0.1%

Shares of NYSE GD opened at $346.47 on Monday. General Dynamics Corporation has a one year low of $268.10 and a one year high of $369.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The firm’s 50 day simple moving average is $340.85 and its two-hundred day simple moving average is $346.54. The stock has a market capitalization of $93.69 billion, a P/E ratio of 21.80, a PEG ratio of 2.15 and a beta of 0.34.

General Dynamics (NYSE:GDGet Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. During the same period last year, the business earned $3.66 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, analysts expect that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were paid a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Friday, April 10th. General Dynamics’s payout ratio is currently 40.03%.

About General Dynamics

(Free Report)

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.

See Also

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