General Dynamics Co. (NYSE:GD) Position Increased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,782,612 shares of the aerospace company’s stock after buying an additional 115,063 shares during the period. Price T Rowe Associates Inc. MD’s holdings in General Dynamics were worth $1,351,041,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GD. Redmont Wealth Advisors LLC acquired a new position in General Dynamics in the 1st quarter worth approximately $25,000. MeadowBrook Investment Advisors LLC acquired a new position in General Dynamics in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new position in General Dynamics in the 4th quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in General Dynamics in the 1st quarter worth approximately $29,000. Finally, Legend Financial Advisors Inc. boosted its stake in General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 36 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Down 0.2 %

Shares of General Dynamics stock traded down $0.58 during midday trading on Friday, reaching $290.40. 1,079,838 shares of the company’s stock traded hands, compared to its average volume of 1,187,075. The company has a market cap of $79.80 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.66 and a beta of 0.60. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $302.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.33. The company’s 50 day simple moving average is $292.65 and its 200 day simple moving average is $282.38.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The firm had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.70 EPS. Equities analysts expect that General Dynamics Co. will post 14.51 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $1.42 dividend. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a yield of 1.96%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Buying and Selling

In related news, Director Leon Rudy F. De sold 2,570 shares of General Dynamics stock in a transaction 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 owns 5,518 shares in the company, valued at approximately $1,589,184. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 5,518 shares in the company, valued at approximately $1,589,184. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the sale, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The disclosure for this sale can be found here. Insiders have sold 68,636 shares of company stock worth $20,209,317 in the last quarter. 1.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on GD. Susquehanna raised their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Morgan Stanley raised their price objective on shares of General Dynamics from $271.00 to $293.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday. Finally, Wells Fargo & Company increased their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $311.33.

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.