Illinois Municipal Retirement Fund Has $3.11 Million Position in General Dynamics Co. (NYSE:GD)

Illinois Municipal Retirement Fund lessened its position in General Dynamics Co. (NYSE:GD) by 16.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,984 shares of the aerospace company’s stock after selling 2,342 shares during the period. Illinois Municipal Retirement Fund’s holdings in General Dynamics were worth $3,112,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GD. Briaud Financial Planning Inc bought a new stake in shares of General Dynamics in the third quarter valued at approximately $27,000. Impact Partnership Wealth LLC lifted its stake in General Dynamics by 411.5% during the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 107 shares during the last quarter. Rakuten Securities Inc. bought a new stake in General Dynamics during the fourth quarter worth $38,000. Wetzel Investment Advisors Inc. bought a new stake in General Dynamics during the fourth quarter worth $38,000. Finally, Operose Advisors LLC acquired a new position in General Dynamics during the 3rd quarter worth approximately $40,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the sale, the chief executive officer now owns 773,977 shares in the company, valued at approximately $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the sale, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark C. Roualet sold 73,330 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the sale, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GD. Barclays boosted their target price on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. The Goldman Sachs Group boosted their target price on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Citigroup boosted their target price on shares of General Dynamics from $283.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Alembic Global Advisors cut shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective on the stock. in a research note on Monday, January 29th. Finally, Susquehanna boosted 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. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $283.80.

General Dynamics Price Performance

Shares of NYSE GD opened at $281.15 on Thursday. The firm’s 50-day moving average price is $280.26 and its 200-day moving average price is $261.22. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $296.50. The firm has a market capitalization of $77.14 billion, a P/E ratio of 23.39, a P/E/G ratio of 1.86 and a beta of 0.68. The company has a current ratio of 1.44, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.39 billion. During the same quarter in the prior year, the company earned $3.58 EPS. The company’s revenue was up 7.5% on a year-over-year basis. Equities research analysts anticipate that General Dynamics Co. will post 14.56 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio is currently 47.25%.

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.