US Asset Management LLC Sells 132 Shares of General Dynamics Co. (NYSE:GD)

by · The Markets Daily

US Asset Management LLC reduced its stake in General Dynamics Co. (NYSE:GD – Free Report) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,139 shares of the aerospace company’s stock after selling 132 shares during the period. US Asset Management LLC’s holdings in General Dynamics were worth $564,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GD. Financial Life Planners purchased a new stake in shares of General Dynamics in the fourth quarter worth about $25,000. Whipplewood Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Dynamics during the 4th quarter valued at approximately $26,000. Heck Capital Advisors LLC purchased a new position in shares of General Dynamics in the fourth quarter valued at $28,000. Finally, Hoey Investments Inc. bought a new stake in General Dynamics in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now owns 45,192 shares of the company’s stock, valued at $12,297,195.12. The trade was a 37.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BTIG Research lowered shares of General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. UBS Group increased their price target on shares of General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. TD Cowen reduced their price objective on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Morgan Stanley decreased their price objective on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, TD Securities lifted their target price on General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $293.00.

View Our Latest Report on General Dynamics

General Dynamics Trading Down 0.3%

Shares of GD opened at $276.77 on Friday. The firm has a market capitalization of $74.28 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.69 and a beta of 0.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a 1-year low of $239.20 and a 1-year high of $316.90. The company has a 50-day moving average of $271.07 and a 200 day moving average of $268.60.

General Dynamics (NYSE:GD – Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 earnings per share. On average, research analysts expect that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 11th were issued a $1.50 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Friday, April 11th. General Dynamics’s payout ratio is presently 41.61%.

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.

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