Harel Insurance Investments & Financial Services Ltd. decreased its position in shares of General Dynamics Co. (NYSE:GD) by 50.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,000 shares of the aerospace company’s stock after selling 1,000 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in General Dynamics were worth $169,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GD. Oregon Public Employees Retirement Fund raised its holdings in General Dynamics by 14,601.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,581,635 shares of the aerospace company’s stock valued at $61,000 after buying an additional 9,516,460 shares during the last quarter. Vanguard Group Inc increased its position in General Dynamics by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 20,905,951 shares of the aerospace company’s stock valued at $4,279,866,000 after purchasing an additional 357,032 shares during the period. California Public Employees Retirement System increased its position in General Dynamics by 35.1% during the 4th quarter. California Public Employees Retirement System now owns 1,172,516 shares of the aerospace company’s stock valued at $184,331,000 after purchasing an additional 304,454 shares during the period. Ceredex Value Advisors LLC acquired a new stake in General Dynamics during the 4th quarter valued at approximately $41,069,000. Finally, Bank of Nova Scotia grew its position in shares of General Dynamics by 224.2% during the 4th quarter. Bank of Nova Scotia now owns 300,131 shares of the aerospace company’s stock worth $47,178,000 after buying an additional 207,547 shares during the period. 87.16% of the stock is owned by institutional investors and hedge funds.
GD stock traded up $1.03 during midday trading on Friday, hitting $173.08. The stock had a trading volume of 1,254,326 shares, compared to its average volume of 1,440,859. The stock has a market cap of $49.70 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.65 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 quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 0.94.
The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 12th were paid a $1.02 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Thursday, April 11th. General Dynamics’s dividend payout ratio is currently 35.73%.
In other General Dynamics news, EVP John Patrick Casey sold 45,470 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $172.46, for a total value of $7,841,756.20. Following the transaction, the executive vice president now owns 148,133 shares of the company’s stock, valued at $25,547,017.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lester L. Lyles sold 4,580 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $172.42, for a total value of $789,683.60. Following the completion of the transaction, the director now directly owns 12,314 shares in the company, valued at approximately $2,123,179.88. The disclosure for this sale can be found here. Insiders have sold 64,690 shares of company stock worth $11,052,603 over the last ninety days. 7.10% of the stock is currently owned by insiders.
Several research firms recently issued reports on GD. JPMorgan Chase & Co. raised shares of General Dynamics from an “underweight” rating to a “neutral” rating and lifted their price target 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. Zacks Investment Research raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Citigroup dropped their price objective on General Dynamics from $195.00 to $175.00 and set a “neutral” rating on the stock in a research note on Monday, January 14th. Credit Suisse Group restated a “buy” rating and set a $190.00 price objective on shares of General Dynamics in a research note on Monday, January 14th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $230.00 target price on shares of General Dynamics in a research note on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $198.29.
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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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