General Dynamics Co. (NYSE:GD) Stake Lessened by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in General Dynamics Co. (NYSE:GD – Get Rating) by 8.6% in the third quarter, HoldingsChannel.com reports. The firm owned 6,720 shares of the aerospace company’s stock after selling 630 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in General Dynamics were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GD. Certified Advisory Corp bought a new stake in General Dynamics in the first quarter worth about $25,000. Wagner Wealth Management LLC acquired a new stake in General Dynamics during the 2nd quarter worth about $32,000. Coston McIsaac & Partners acquired a new stake in General Dynamics during the 2nd quarter worth about $32,000. Annapolis Financial Services LLC acquired a new stake in General Dynamics during the 3rd quarter worth about $36,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in General Dynamics by 104.4% during the 3rd 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 during the period. Institutional investors and hedge funds own 84.83% of the company’s stock.

General Dynamics Trading Up 0.5 %

NYSE GD opened at $219.83 on Wednesday. The firm has a market cap of $60.33 billion, a P/E ratio of 18.02, a P/E/G 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. The stock’s 50-day moving average is $233.20 and its 200-day moving average is $237.17. General Dynamics Co. has a one year low of $207.42 and a one year high of $256.86.

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

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Friday, April 14th will be given a dividend of $1.32 per share. The ex-dividend date is Thursday, April 13th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.26. General Dynamics’s dividend payout ratio (DPR) is currently 41.31%.

Insider Activity at General Dynamics

In other General Dynamics news, VP Mark Lagrand Burns sold 27,600 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $226.93, for a total value of $6,263,268.00. Following the completion of the transaction, the vice president now directly owns 56,909 shares in the company, valued at $12,914,359.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on GD. Cowen boosted their price objective on General Dynamics from $260.00 to $285.00 in a report on Tuesday, January 3rd. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Monday. Susquehanna cut their target price on General Dynamics from $285.00 to $263.00 in a research note on Thursday, January 26th. Morgan Stanley upped their target price on General Dynamics from $243.00 to $248.00 in a research note on Thursday, January 26th. Finally, Credit Suisse Group dropped their price objective on General Dynamics from $240.00 to $222.00 and set a “neutral” rating for the company in a research note on Thursday, January 26th. One analyst has 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.15.

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.