Procyon Advisors LLC Has $2.39 Million Holdings in General Dynamics Co. (NYSE:GD)

Procyon Advisors LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 4.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,449 shares of the aerospace company’s stock after selling 369 shares during the quarter. Procyon Advisors LLC’s holdings in General Dynamics were worth $2,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GD. Norges Bank bought a new position in shares of General Dynamics in the 4th quarter valued at about $728,284,000. Wellington Management Group LLP grew its stake in General Dynamics by 12.0% in the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after purchasing an additional 1,755,276 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of General Dynamics by 10,763.2% during the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after purchasing an additional 915,091 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of General Dynamics by 3,645.4% during the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after purchasing an additional 543,672 shares in the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of General Dynamics during the 4th quarter worth approximately $43,733,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of recent analyst reports. Citigroup boosted their target price on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Susquehanna upped their target price on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Wells Fargo & Company lifted their price target on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Barclays upped their price objective on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group lifted their target price on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $303.24.

Insiders Place Their Bets

In related news, Director Leon Rudy F. De sold 2,570 shares of General Dynamics stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the transaction, the director now directly owns 5,518 shares of the company’s stock, valued at $1,589,184. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Leon Rudy F. De sold 2,570 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the sale, the director now directly owns 5,518 shares of the company’s stock, valued at $1,589,184. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Insiders have sold 118,486 shares of company stock worth $34,391,642 over the last ninety days. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $292.50 on Friday. General Dynamics Co. has a 12-month low of $209.25 and a 12-month high of $302.75. The company’s 50 day moving average price is $294.10 and its two-hundred day moving average price is $277.37. The firm has a market cap of $80.25 billion, a PE ratio of 23.86, a PEG ratio of 1.68 and a beta of 0.64. 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 issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The company had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.64 EPS. Equities research analysts predict that General Dynamics Co. will post 14.55 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 annualized dividend and a yield of 1.94%. General Dynamics’s dividend payout ratio is 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.