State of Michigan Retirement System Purchases 200 Shares of General Dynamics Co. (NYSE:GD)

State of Michigan Retirement System lifted its position in shares of General Dynamics Co. (NYSE:GD) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,212 shares of the aerospace company’s stock after purchasing an additional 200 shares during the period. State of Michigan Retirement System’s holdings in General Dynamics were worth $17,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Legend Financial Advisors Inc. increased its stake in General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the period. Diversified Trust Co boosted its holdings in shares of General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after acquiring an additional 36 shares in the last quarter. Fulton Bank N.A. boosted its holdings in shares of General Dynamics by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after acquiring an additional 37 shares in the last quarter. Copperwynd Financial LLC boosted its holdings in shares of General Dynamics by 3.7% during the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock valued at $274,000 after acquiring an additional 38 shares in the last quarter. Finally, Woodward Diversified Capital LLC boosted its holdings in shares of General Dynamics by 2.3% during the 4th quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock valued at $448,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.7 %

NYSE GD opened at $285.84 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The stock has a market capitalization of $78.42 billion, a PE ratio of 23.31, a PEG ratio of 1.65 and a beta of 0.60. General Dynamics Co. has a 1 year low of $211.94 and a 1 year high of $302.75. The business’s 50-day moving average is $294.20 and its 200 day moving average is $278.32.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter last year, the business earned $2.64 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that General Dynamics Co. will post 14.56 earnings per share for the current year.

General Dynamics Announces Dividend

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

Insider Activity

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,486 shares of company stock worth $34,391,642. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

GD has been the subject of several analyst reports. Argus raised their target price on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. BTIG Research started coverage on General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Royal Bank of Canada lowered their price objective on General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Sanford C. Bernstein lifted their price objective on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company lifted their price objective on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report 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. According to data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $305.56.

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.