Carret Asset Management LLC Sells 70 Shares of General Dynamics Co. (NYSE:GD)

Carret Asset Management LLC decreased its holdings in General Dynamics Co. (NYSE:GD) by 3.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,205 shares of the aerospace company’s stock after selling 70 shares during the quarter. Carret Asset Management LLC’s holdings in General Dynamics were worth $623,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in General Dynamics by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock valued at $4,955,023,000 after acquiring an additional 133,061 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after buying an additional 1,755,276 shares during the last quarter. Sanders Capital LLC boosted its stake in shares of General Dynamics by 3.7% in the 4th quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock worth $1,081,488,000 after buying an additional 147,800 shares during the last quarter. Norges Bank purchased a new position in shares of General Dynamics in the 4th quarter worth approximately $728,284,000. Finally, Northern Trust Corp boosted its stake in shares of General Dynamics by 1.1% in the 4th quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock worth $592,764,000 after buying an additional 24,395 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly 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. Over the last ninety days, insiders sold 118,486 shares of company stock worth $34,391,642. Company insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

NYSE GD opened at $284.87 on Thursday. The company has a 50-day simple moving average of $294.07 and a two-hundred day simple moving average of $278.55. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a 12-month low of $211.94 and a 12-month high of $302.75. The firm has a market cap of $78.16 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.63 and a beta of 0.60.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the previous year, the company earned $2.64 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 annualized dividend and a yield of 1.99%. General Dynamics’s payout ratio is 46.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GD shares. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. Barclays upped their price objective on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company boosted their target price on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Robert W. Baird reissued an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday. Finally, Argus boosted their target price on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 29th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.56.

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.