General Dynamics Co. (NYSE:GD) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its position in shares of General Dynamics Co. (NYSE:GD) by 2.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,782,612 shares of the aerospace company’s stock after acquiring an additional 115,063 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.74% of General Dynamics worth $1,351,041,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GD. Redmont Wealth Advisors LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at about $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of General Dynamics in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics in the fourth quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of General Dynamics in the first quarter valued at approximately $29,000. Finally, Legend Financial Advisors Inc. grew its position in shares of General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GD. Wells Fargo & Company upped their price target on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday. Barclays upped their price target on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Citigroup upped their price target on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 price target on shares of General Dynamics in a research report on Thursday. Finally, StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $311.33.

General Dynamics Trading Down 0.2 %

NYSE:GD traded down $0.58 during trading hours on Friday, reaching $290.40. 1,079,838 shares of the stock were exchanged, compared to its average volume of 1,187,075. The company has a quick ratio of 0.87, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average of $292.65 and a two-hundred day moving average of $282.38. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $302.75. The company has a market capitalization of $79.80 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.66 and a beta of 0.60.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.70 earnings per share. On average, equities analysts predict that General Dynamics Co. will post 14.51 EPS for the current year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s payout ratio is currently 46.33%.

Insider Activity

In other news, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the sale, the director now directly owns 5,518 shares in the company, valued at $1,589,184. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the transaction, the director now owns 5,518 shares of the company’s stock, valued at $1,589,184. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the transaction, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,636 shares of company stock worth $20,209,317. Corporate insiders own 1.52% of the company’s stock.

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.