General Dynamics Co. (NYSE:GD) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lowered its stake in General Dynamics Co. (NYSE:GDFree Report) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,352 shares of the aerospace company’s stock after selling 76 shares during the period. Salem Investment Counselors Inc.’s holdings in General Dynamics were worth $870,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in General Dynamics by 0.6% during the third quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock worth $4,955,023,000 after acquiring an additional 133,061 shares during the period. Wellington Management Group LLP grew its holdings in General Dynamics by 12.0% during the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after acquiring an additional 1,755,276 shares during the period. State Street Corp grew its holdings in General Dynamics by 0.4% during the second quarter. State Street Corp now owns 9,932,541 shares of the aerospace company’s stock worth $2,136,986,000 after acquiring an additional 39,597 shares during the period. Geode Capital Management LLC grew its holdings in General Dynamics by 6.5% during the first quarter. Geode Capital Management LLC now owns 4,228,831 shares of the aerospace company’s stock worth $962,711,000 after acquiring an additional 259,855 shares during the period. Finally, Sanders Capital LLC grew its holdings in General Dynamics by 0.4% during the third quarter. Sanders Capital LLC now owns 4,017,057 shares of the aerospace company’s stock worth $887,649,000 after acquiring an additional 17,061 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the topic of several research reports. UBS Group upped their target price on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 target price on shares of General Dynamics in a report on Thursday, January 25th. Citigroup upped their target price on General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, January 25th. StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Finally, Alembic Global Advisors lowered General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price on the stock. in a report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $271.69.

Get Our Latest Report on GD

Insider Transactions at General Dynamics

In other news, EVP Mark C. Roualet sold 73,330 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the sale, the executive vice president now owns 149,205 shares in the company, valued at approximately $39,502,023.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the sale, the chief executive officer now owns 773,977 shares in the company, valued at approximately $204,569,860.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Roualet sold 73,330 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $264.75, for a total value of $19,414,117.50. Following the completion of the transaction, the executive vice president now owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

General Dynamics Trading Down 0.1 %

NYSE GD opened at $281.16 on Monday. General Dynamics Co. has a 12 month low of $202.35 and a 12 month high of $284.75. The company has a 50-day moving average of $268.61 and a 200-day moving average of $250.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92. The company has a market cap of $77.03 billion, a P/E ratio of 23.39, a P/E/G ratio of 1.79 and a beta of 0.68.

General Dynamics (NYSE:GDGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.39 billion. During the same period in the prior year, the company earned $3.58 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts predict that General Dynamics Co. will post 14.6 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.42 per share. The ex-dividend date is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is presently 43.93%.

About General Dynamics

(Free Report)

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.

Further Reading

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

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