Horizon Investments LLC Has $1.39 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Horizon Investments LLC cut its stake in shares of General Dynamics Co. (NYSE:GDGet Rating) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,793 shares of the aerospace company’s stock after selling 137 shares during the period. Horizon Investments LLC’s holdings in General Dynamics were worth $1,390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in General Dynamics during the 1st quarter worth approximately $75,000. Vanguard Group Inc. increased its holdings in General Dynamics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 20,326,396 shares of the aerospace company’s stock worth $4,902,319,000 after purchasing an additional 140,760 shares in the last quarter. Allstate Corp boosted its position in shares of General Dynamics by 566.9% during the fourth quarter. Allstate Corp now owns 20,241 shares of the aerospace company’s stock worth $4,220,000 after buying an additional 17,206 shares during the period. AIA Group Ltd raised its position in General Dynamics by 47.9% in the 1st quarter. AIA Group Ltd now owns 3,494 shares of the aerospace company’s stock valued at $843,000 after buying an additional 1,131 shares during the last quarter. Finally, Good Life Advisors LLC lifted its stake in General Dynamics by 3.3% in the 1st quarter. Good Life Advisors LLC now owns 4,150 shares of the aerospace company’s stock valued at $1,001,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 86.16% of the company’s stock.

Insider Buying and Selling

In other news, CEO Phebe N. Novakovic sold 71,461 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $227.05, for a total value of $16,225,220.05. Following the completion of the transaction, the chief executive officer now owns 781,152 shares of the company’s stock, valued at $177,360,561.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GD shares. Royal Bank of Canada initiated coverage on General Dynamics in a research report on Monday, August 29th. They set an “outperform” rating and a $275.00 price target for the company. Seaport Res Ptn reissued a “buy” rating on shares of General Dynamics in a report on Wednesday, July 27th. Finally, Cowen set a $260.00 target price on shares of General Dynamics in a research note on Tuesday, July 19th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $256.38.

General Dynamics Stock Up 1.7 %

GD stock opened at $231.61 on Monday. The company has a market cap of $63.52 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86. The company has a quick ratio of 0.98, a current ratio of 1.40 and a debt-to-equity ratio of 0.56. General Dynamics Co. has a 52 week low of $188.64 and a 52 week high of $254.99. The business has a 50-day simple moving average of $226.29 and a 200 day simple moving average of $229.90.

General Dynamics (NYSE:GDGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The aerospace company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.03. The company had revenue of $9.19 billion during the quarter, compared to the consensus estimate of $9.42 billion. General Dynamics had a net margin of 8.61% and a return on equity of 19.25%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.61 EPS. Sell-side analysts anticipate that General Dynamics Co. will post 12.16 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a dividend of $1.26 per share. The ex-dividend date is Thursday, October 6th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.18%. General Dynamics’s dividend payout ratio (DPR) is currently 42.64%.

About General Dynamics

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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 designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.

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

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