Teachers Retirement System of The State of Kentucky Lowers Position in General Dynamics Co. (NYSE:GD)

Teachers Retirement System of The State of Kentucky lessened its holdings in General Dynamics Co. (NYSE:GDGet Rating) by 4.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,390 shares of the aerospace company’s stock after selling 713 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in General Dynamics were worth $3,953,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in General Dynamics by 33.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,632 shares of the aerospace company’s stock valued at $6,664,000 after purchasing an additional 6,994 shares in the last quarter. M Holdings Securities Inc. purchased a new position in shares of General Dynamics in the first quarter worth about $714,000. Advisory Services Network LLC increased its holdings in shares of General Dynamics by 10.6% in the first quarter. Advisory Services Network LLC now owns 14,186 shares of the aerospace company’s stock worth $3,422,000 after buying an additional 1,361 shares during the period. Greylin Investment Mangement Inc. increased its holdings in shares of General Dynamics by 22.8% in the first quarter. Greylin Investment Mangement Inc. now owns 2,317 shares of the aerospace company’s stock worth $559,000 after buying an additional 430 shares during the period. Finally, Toroso Investments LLC increased its holdings in shares of General Dynamics by 8.2% in the first quarter. Toroso Investments LLC now owns 7,452 shares of the aerospace company’s stock worth $1,797,000 after buying an additional 567 shares during the period. Hedge funds and other institutional investors own 86.16% of the company’s stock.

General Dynamics Stock Down 0.4 %

NYSE GD opened at $227.45 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.40 and a quick ratio of 0.98. The stock has a market capitalization of $62.38 billion, a PE ratio of 19.24, a PEG ratio of 1.83 and a beta of 0.86. General Dynamics Co. has a 1 year low of $188.64 and a 1 year high of $254.99. The business’s 50-day moving average is $227.30 and its 200 day moving average is $229.82.

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

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be given a dividend of $1.26 per share. The ex-dividend date is Thursday, October 6th. This represents a $5.04 annualized dividend and a yield of 2.22%. General Dynamics’s payout ratio is 42.64%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 71,461 shares of General Dynamics stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $227.05, for a total transaction of $16,225,220.05. Following the sale, the chief executive officer now directly owns 781,152 shares of the company’s stock, valued at approximately $177,360,561.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on GD shares. Royal Bank of Canada started coverage on General Dynamics in a report on Monday, August 29th. They issued an “outperform” rating and a $275.00 price objective on the stock. Seaport Res Ptn reiterated a “buy” rating on shares of General Dynamics in a report on Wednesday, July 27th. Finally, Cowen set a $260.00 price objective on General Dynamics in a report on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $256.38.

General Dynamics Company Profile

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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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