Choreo LLC Cuts Stock Holdings in General Dynamics Co. (NYSE:GD)

Choreo LLC lowered its stake in General Dynamics Co. (NYSE:GD) by 7.6% during the 1st quarter, Holdings Channel reports. The firm owned 821 shares of the aerospace company’s stock after selling 68 shares during the quarter. Choreo LLC’s holdings in General Dynamics were worth $232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GD. Sippican Capital Advisors raised its position in shares of General Dynamics by 3.7% during the 1st quarter. Sippican Capital Advisors now owns 2,782 shares of the aerospace company’s stock valued at $786,000 after buying an additional 100 shares in the last quarter. Hunter Associates Investment Management LLC purchased a new stake in General Dynamics during the first quarter valued at approximately $223,000. Rockline Wealth Management LLC lifted its stake in shares of General Dynamics by 1.8% in the 1st quarter. Rockline Wealth Management LLC now owns 14,931 shares of the aerospace company’s stock valued at $4,218,000 after purchasing an additional 257 shares during the last quarter. Main Street Research LLC boosted its holdings in shares of General Dynamics by 5.7% in the 1st quarter. Main Street Research LLC now owns 94,460 shares of the aerospace company’s stock worth $26,684,000 after purchasing an additional 5,067 shares during the period. Finally, Schulhoff & Co. Inc. increased its position in shares of General Dynamics by 1.8% during the 1st quarter. Schulhoff & Co. Inc. now owns 11,463 shares of the aerospace company’s stock valued at $3,238,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GD. Susquehanna lifted their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Royal Bank of Canada reduced their price target on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the company from $305.00 to $335.00 in a research report on Monday, April 29th. The Goldman Sachs Group boosted their target price on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $305.56.

General Dynamics Stock Down 0.5 %

NYSE:GD opened at $280.33 on Tuesday. The company’s 50 day moving average is $293.93 and its two-hundred day moving average is $279.42. The company has a market cap of $76.91 billion, a PE ratio of 22.87, a P/E/G ratio of 1.61 and a beta of 0.60. General Dynamics Co. has a twelve month low of $212.58 and a twelve month high of $302.75. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41.

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

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $1.42 dividend. The ex-dividend date is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a yield of 2.03%. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Buying and Selling

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the sale, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Dynamics news, 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 value of $3,978,647.04. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,486 shares of company stock worth $34,391,642. 1.60% of the stock is owned by company insiders.

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.