Fmr LLC Has $1.17 Billion Holdings in General Dynamics Co. (NYSE:GD)

FMR LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,441,594 shares of the aerospace company’s stock after selling 232,496 shares during the quarter. FMR LLC owned approximately 2.58% of General Dynamics worth $1,169,893,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. U S Global Investors Inc. increased its position in General Dynamics by 3.4% in the 4th quarter. U S Global Investors Inc. now owns 15,151 shares of the aerospace company’s stock valued at $2,382,000 after buying an additional 499 shares in the last quarter. Tompkins Financial Corp increased its position in General Dynamics by 3.8% in the 4th quarter. Tompkins Financial Corp now owns 16,406 shares of the aerospace company’s stock valued at $2,579,000 after buying an additional 608 shares in the last quarter. Iberiabank Corp increased its position in General Dynamics by 6.0% in the 4th quarter. Iberiabank Corp now owns 10,339 shares of the aerospace company’s stock valued at $1,625,000 after buying an additional 581 shares in the last quarter. Miracle Mile Advisors LLC bought a new stake in General Dynamics in the 4th quarter valued at about $241,000. Finally, United Services Automobile Association increased its position in General Dynamics by 5.4% in the 4th quarter. United Services Automobile Association now owns 136,689 shares of the aerospace company’s stock valued at $21,489,000 after buying an additional 6,985 shares in the last quarter. 87.27% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics stock traded up $2.32 during trading on Friday, hitting $176.85. The stock had a trading volume of 1,348,448 shares, compared to its average volume of 1,117,588. General Dynamics Co. has a 1 year low of $143.87 and a 1 year high of $229.74. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 0.98. The company has a market cap of $51.07 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.64 and a beta of 1.12.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 30th. The aerospace company reported $3.07 EPS for the quarter, beating the consensus estimate of $2.98 by $0.09. General Dynamics had a return on equity of 28.33% and a net margin of 9.24%. The business had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. General Dynamics’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities research analysts forecast that General Dynamics Co. will post 11.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a $1.02 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $4.08 annualized dividend and a yield of 2.31%. General Dynamics’s dividend payout ratio is presently 35.73%.

In other General Dynamics news, VP Christopher J. Brady sold 2,327 shares of the business’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $171.23, for a total transaction of $398,452.21. Following the sale, the vice president now owns 5,134 shares of the company’s stock, valued at approximately $879,094.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gary L. Whited sold 14,640 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the sale, the vice president now directly owns 30,462 shares in the company, valued at approximately $5,037,805.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,017 shares of company stock worth $11,451,055. 7.10% of the stock is owned by company insiders.

A number of analysts have commented on the company. Jefferies Financial Group lowered General Dynamics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $197.00 to $164.00 in a report on Tuesday, January 8th. Zacks Investment Research raised General Dynamics from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Citigroup decreased their price objective on General Dynamics from $195.00 to $175.00 and set a “neutral” rating for the company in a report on Monday, January 14th. Credit Suisse Group reissued a “buy” rating and set a $190.00 price objective on shares of General Dynamics in a report on Monday, January 14th. Finally, Drexel Hamilton reissued a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a report on Monday, February 4th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $204.43.

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About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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