State of Alaska Department of Revenue Sells 755 Shares of General Dynamics Co. (NYSE:GD)

State of Alaska Department of Revenue decreased its position in shares of General Dynamics Co. (NYSE:GD) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,701 shares of the aerospace company’s stock after selling 755 shares during the period. State of Alaska Department of Revenue’s holdings in General Dynamics were worth $9,519,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GD. Legend Financial Advisors Inc. raised its position in shares of General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after buying an additional 36 shares during the last quarter. Diversified Trust Co raised its position in shares of General Dynamics by 2.5% during the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after buying an additional 36 shares during the last quarter. Fulton Bank N.A. raised its position in shares of General Dynamics by 1.1% during the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after buying an additional 37 shares during the last quarter. Copperwynd Financial LLC raised its position in shares of General Dynamics by 3.7% during the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock valued at $274,000 after buying an additional 38 shares during the last quarter. Finally, Woodward Diversified Capital LLC raised its position in shares of General Dynamics by 2.3% during the fourth quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock valued at $448,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada cut their price objective on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Argus upped their target price on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. Finally, Wells Fargo & Company upped their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $305.56.

Insiders Place Their Bets

In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction on 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 sale, the chief financial officer now owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction on 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 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 legal filing with the SEC, which is available at the SEC website. Also, VP Mark Lagrand Burns sold 12,089 shares of General Dynamics stock in a transaction on Friday, May 17th. The stock was sold at an average price of $296.59, for a total transaction of $3,585,476.51. Following the transaction, the vice president now directly owns 64,132 shares in the company, valued at $19,020,909.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,486 shares of company stock valued at $34,391,642. Company insiders own 1.60% of the company’s stock.

General Dynamics Price Performance

Shares of General Dynamics stock traded down $0.94 during midday trading on Wednesday, reaching $284.87. The company had a trading volume of 656,719 shares, compared to its average volume of 1,056,769. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $78.16 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.65 and a beta of 0.60. The stock has a fifty day simple moving average of $294.07 and a 200 day simple moving average of $278.55. General Dynamics Co. has a 1-year low of $211.94 and a 1-year high of $302.75.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same period in the prior year, the firm posted $2.64 EPS. General Dynamics’s revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that General Dynamics Co. will post 14.56 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio is presently 46.33%.

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.