General Dynamics Co. (NYSE:GD) Holdings Lowered by Arrow Financial Corp

Arrow Financial Corp trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,668 shares of the aerospace company’s stock after selling 714 shares during the quarter. Arrow Financial Corp’s holdings in General Dynamics were worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. Norges Bank acquired a new position in shares of General Dynamics in the 4th quarter worth approximately $728,284,000. Wellington Management Group LLP grew its stake in shares of General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after purchasing an additional 1,755,276 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of General Dynamics by 10,763.2% in the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after purchasing an additional 915,091 shares during the last quarter. FMR LLC increased its position in shares of General Dynamics by 13.7% in the third quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after acquiring an additional 275,947 shares in the last quarter. Finally, Boston Partners increased its position in shares of General Dynamics by 12.7% in the third quarter. Boston Partners now owns 1,763,878 shares of the aerospace company’s stock worth $392,110,000 after acquiring an additional 198,185 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

NYSE:GD traded up $1.26 during midday trading on Friday, reaching $297.34. The stock had a trading volume of 362,670 shares, compared to its average volume of 1,064,155. The stock has a market capitalization of $81.58 billion, a P/E ratio of 24.15, a PEG ratio of 1.67 and a beta of 0.67. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $301.48. The firm’s fifty day simple moving average is $290.40 and its 200-day simple moving average is $270.74.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.64 EPS. On average, equities research analysts forecast that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.91%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is 46.33%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GD. Citigroup lifted their target price on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Company boosted their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Argus increased their target price on shares of General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and an average target price of $300.63.

Insider Activity at General Dynamics

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock worth $34,391,642 in the last ninety days. 1.52% of the stock is currently owned by insiders.

General Dynamics Profile

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.