Levin Capital Strategies L.P. Sells 700 Shares of General Dynamics Co. (NYSE:GD)

Levin Capital Strategies L.P. cut its position in General Dynamics Co. (NYSE:GD) by 43.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 899 shares of the aerospace company’s stock after selling 700 shares during the quarter. Levin Capital Strategies L.P.’s holdings in General Dynamics were worth $254,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GD. Eudaimonia Partners LLC acquired a new position in shares of General Dynamics during the 4th quarter worth $240,000. Benjamin F. Edwards & Company Inc. grew its position in shares of General Dynamics by 188.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 40,830 shares of the aerospace company’s stock valued at $10,602,000 after buying an additional 26,668 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of General Dynamics in the 4th quarter valued at about $1,056,000. Gladstone Capital Management LLP bought a new stake in shares of General Dynamics in the 4th quarter valued at about $3,869,000. Finally, SWP Financial LLC bought a new stake in shares of General Dynamics in the 4th quarter valued at about $227,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Trading Up 1.9 %

Shares of GD traded up $5.67 during trading hours on Wednesday, hitting $298.68. The company had a trading volume of 1,609,396 shares, compared to its average volume of 1,075,666. The firm has a market cap of $82.07 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.66 and a beta of 0.60. The stock’s 50 day moving average price is $292.35 and its 200 day moving average price is $283.14. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52-week low of $214.53 and a 52-week high of $302.75.

General Dynamics (NYSE:GD) last released 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 business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company posted $2.70 earnings per share. On average, research analysts predict that General Dynamics Co. will post 14.51 EPS for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a yield of 1.90%. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Buying and Selling at General Dynamics

In other news, Director Leon Rudy F. De sold 2,570 shares of the company’s 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 completion of the sale, the director now directly owns 5,518 shares in the company, valued at approximately $1,589,184. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other General Dynamics news, VP William A. Moss sold 21,050 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $294.85, for a total transaction of $6,206,592.50. Following the completion of the transaction, the vice president now owns 16,624 shares of the company’s stock, valued at approximately $4,901,586.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the completion of the transaction, the director now directly owns 5,518 shares of the company’s stock, valued at approximately $1,589,184. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,069 shares of company stock worth $16,295,101. Insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

GD has been the topic of several research analyst reports. The Goldman Sachs Group upped their target price on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Susquehanna upped their target price on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Citigroup increased their price target on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a report on Monday. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $312.17.

General Dynamics Company 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.