Burney Co. Has $4.75 Million Stock Position in General Dynamics Co. (NYSE:GD)

Burney Co. lowered its position in shares of General Dynamics Co. (NYSE:GD) by 5.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,798 shares of the aerospace company’s stock after selling 950 shares during the quarter. Burney Co.’s holdings in General Dynamics were worth $4,745,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GD. Global Retirement Partners LLC grew its position in General Dynamics by 31.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,044 shares of the aerospace company’s stock valued at $262,000 after acquiring an additional 250 shares during the last quarter. Parsons Capital Management Inc. RI bought a new stake in shares of General Dynamics during the fourth quarter worth about $208,000. TIAA Trust National Association grew its holdings in shares of General Dynamics by 2.3% during the fourth quarter. TIAA Trust National Association now owns 7,603 shares of the aerospace company’s stock worth $1,974,000 after purchasing an additional 174 shares during the last quarter. Colonial River Wealth Management LLC bought a new stake in shares of General Dynamics during the fourth quarter worth about $273,000. Finally, Integrated Investment Consultants LLC bought a new stake in shares of General Dynamics during the fourth quarter worth about $209,000. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

GD has been the topic of a number of research reports. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and upped their target price for the stock from $305.00 to $335.00 in a research report on Monday, April 29th. Sanford C. Bernstein upped their target price on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. BTIG Research initiated coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Argus upped their price target on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $312.17.

General Dynamics Stock Performance

Shares of GD stock traded down $1.06 on Friday, hitting $292.39. 990,893 shares of the stock were exchanged, compared to its average volume of 1,197,340. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $80.34 billion, a PE ratio of 23.85, a P/E/G ratio of 1.68 and a beta of 0.60. General Dynamics Co. has a one year low of $214.53 and a one year high of $302.75. The firm’s 50 day moving average is $292.16 and its two-hundred day moving average is $283.58.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share 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 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 firm’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.70 EPS. Sell-side analysts expect that General Dynamics Co. will post 14.5 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 1.94%. General Dynamics’s payout ratio is 46.33%.

Insider Transactions at General Dynamics

In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’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 completion of the transaction, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Mark Lagrand Burns sold 6,016 shares of General Dynamics stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $296.58, for a total transaction of $1,784,225.28. Following the completion of the sale, the vice president now owns 76,221 shares in the company, valued at approximately $22,605,624.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the sale, the chief financial officer now 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. In the last 90 days, insiders sold 52,499 shares of company stock worth $15,554,941. 1.52% of the stock is owned by company insiders.

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.