Murphy Capital Management Inc. Decreases Holdings in General Dynamics Co. (NYSE:GD)

Murphy Capital Management Inc. reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 1.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,059 shares of the aerospace company’s stock after selling 277 shares during the period. Murphy Capital Management Inc.’s holdings in General Dynamics were worth $2,718,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. purchased a new stake in General Dynamics in the 4th quarter worth approximately $25,000. We Are One Seven LLC purchased a new stake in General Dynamics in the 4th quarter worth approximately $27,000. Aspire Private Capital LLC purchased a new stake in General Dynamics in the 4th quarter worth approximately $29,000. CX Institutional purchased a new stake in shares of General Dynamics during the 1st quarter valued at $45,000. Finally, Athena Capital Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter valued at $46,000. 87.25% of the stock is owned by hedge funds and other institutional investors.

GD stock opened at $176.69 on Friday. The firm has a market cap of $50.86 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.71 and a beta of 1.13. General Dynamics Co. has a 52 week low of $143.87 and a 52 week high of $208.88. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.82 and a current ratio of 1.23.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The business had revenue of $9.26 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the firm earned $2.65 EPS. The company’s revenue was up 22.9% on a year-over-year basis. Research analysts expect that General Dynamics Co. will post 11.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.31%. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 35.73%.

Several research firms have recently weighed in on GD. UBS Group raised their price objective on shares of General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Sanford C. Bernstein lowered their price objective on shares of General Dynamics from $186.00 to $178.00 and set a “market perform” rating on the stock in a research report on Monday, February 4th. Cowen restated a “buy” rating and set a $202.00 price objective on shares of General Dynamics in a research report on Wednesday, April 24th. JPMorgan Chase & Co. upgraded shares of General Dynamics from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $188.00 to $200.00 in a research report on Thursday, April 25th. They noted that the move was a valuation call. Finally, Drexel Hamilton restated a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a research report on Monday, February 4th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $198.43.

In related news, EVP John Patrick Casey sold 45,470 shares of General Dynamics stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $172.46, for a total transaction of $7,841,756.20. Following the completion of the transaction, the executive vice president now directly owns 148,133 shares of the company’s stock, valued at approximately $25,547,017.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christopher J. Brady sold 2,327 shares of General Dynamics stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $171.23, for a total transaction of $398,452.21. Following the transaction, the vice president now directly owns 5,134 shares of the company’s stock, valued at $879,094.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,017 shares of company stock valued at $11,451,055. Corporate insiders own 7.10% of the company’s stock.

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General Dynamics Company Profile

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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