Price T Rowe Associates Inc. MD Sells 3,249 Shares of General Dynamics Co. (NYSE:GD)

Price T Rowe Associates Inc. MD lessened its holdings in General Dynamics Co. (NYSE:GD – Get Rating) by 1.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 299,338 shares of the aerospace company’s stock after selling 3,249 shares during the period. Price T Rowe Associates Inc. MD’s holdings in General Dynamics were worth $63,512,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GD. Certified Advisory Corp bought a new position in shares of General Dynamics during the first quarter worth $25,000. Wagner Wealth Management LLC purchased a new stake in General Dynamics in the 2nd quarter worth $32,000. Coston McIsaac & Partners bought a new position in shares of General Dynamics during the 2nd quarter valued at about $32,000. Annapolis Financial Services LLC bought a new stake in shares of General Dynamics in the third quarter worth about $36,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of General Dynamics by 104.4% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 184 shares of the aerospace company’s stock worth $39,000 after buying an additional 94 shares in the last quarter. 84.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In other General Dynamics news, VP Mark Lagrand Burns sold 27,600 shares of the company’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $226.93, for a total value of $6,263,268.00. Following the transaction, the vice president now directly owns 56,909 shares in the company, valued at approximately $12,914,359.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Susquehanna cut their price target on General Dynamics from $285.00 to $263.00 in a report on Thursday, January 26th. Cowen boosted their price target on shares of General Dynamics from $260.00 to $285.00 in a research report on Tuesday, January 3rd. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Monday. Credit Suisse Group dropped their price objective on shares of General Dynamics from $240.00 to $222.00 and set a “neutral” rating for the company in a research note on Thursday, January 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of General Dynamics from $260.00 to $245.00 and set an “overweight” rating on the stock in a research report on Friday, January 27th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.15.

General Dynamics Stock Performance

General Dynamics stock opened at $218.79 on Tuesday. General Dynamics Co. has a 1-year low of $207.42 and a 1-year high of $256.86. The company’s 50-day moving average is $233.77 and its 200 day moving average is $237.26. The firm has a market capitalization of $60.04 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.37 and a quick ratio of 0.96.

General Dynamics (NYSE:GD – Get Rating) last issued its quarterly earnings results on Wednesday, January 25th. The aerospace company reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.53 by $0.05. General Dynamics had a return on equity of 18.93% and a net margin of 8.60%. The firm had revenue of $10.85 billion for the quarter, compared to the consensus estimate of $10.66 billion. During the same period in the prior year, the business posted $3.39 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts forecast that General Dynamics Co. will post 12.74 EPS for the current year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Friday, April 14th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Thursday, April 13th. This is a boost from General Dynamics’s previous quarterly dividend of $1.26. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.41%. General Dynamics’s dividend payout ratio is presently 43.28%.

General Dynamics Company Profile

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General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver state-of-the-art solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets.