Levin Capital Strategies L.P. Sells 700 Shares of General Dynamics Co. (NYSE:GD)

Levin Capital Strategies L.P. decreased its position in General Dynamics Co. (NYSE:GD) by 43.8% in the first quarter, Holdings Channel reports. The firm owned 899 shares of the aerospace company’s stock after selling 700 shares during the period. Levin Capital Strategies L.P.’s holdings in General Dynamics were worth $254,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its holdings in shares of General Dynamics by 15.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 8,443 shares of the aerospace company’s stock valued at $2,385,000 after purchasing an additional 1,140 shares during the last quarter. Ancora Advisors LLC increased its position in shares of General Dynamics by 13.4% in the 1st quarter. Ancora Advisors LLC now owns 134,868 shares of the aerospace company’s stock valued at $38,099,000 after acquiring an additional 15,904 shares during the period. Dynasty Wealth Management LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at $1,412,000. Industrial Alliance Investment Management Inc. grew its position in General Dynamics by 4.4% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,574 shares of the aerospace company’s stock worth $445,000 after purchasing an additional 66 shares during the period. Finally, Kingdon Capital Management L.L.C. grew its position in General Dynamics by 18.6% during the 1st quarter. Kingdon Capital Management L.L.C. now owns 38,200 shares of the aerospace company’s stock worth $10,791,000 after purchasing an additional 6,000 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In other General Dynamics 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 document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leon Rudy F. De sold 2,570 shares of General Dynamics stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,069 shares of company stock worth $16,295,101. 1.52% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price target on General Dynamics from $330.00 to $334.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and increased their price target for the stock from $305.00 to $335.00 in a research report on Monday, April 29th. Citigroup increased their price target on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Morgan Stanley increased their price target on General Dynamics from $271.00 to $293.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Finally, BTIG Research started coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $312.17.

General Dynamics Stock Performance

Shares of GD traded up $5.67 during mid-day trading on Wednesday, hitting $298.68. 1,609,396 shares of the company’s stock were exchanged, compared to its average volume of 1,075,666. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $302.75. The firm has a market capitalization of $82.07 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.66 and a beta of 0.60. The business’s 50 day moving average is $292.35 and its two-hundred day moving average is $283.14. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.70 earnings per share. On average, equities analysts expect that General Dynamics Co. will post 14.51 earnings per share for the current 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 given a dividend of $1.42 per share. The ex-dividend date is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a yield of 1.90%. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

General Dynamics Company 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.