General Dynamics Co. (NYSE:GD) Shares Sold by Park Place Capital Corp

Park Place Capital Corp cut its stake in shares of General Dynamics Co. (NYSE:GD) by 48.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 342 shares of the aerospace company’s stock after selling 326 shares during the period. Park Place Capital Corp’s holdings in General Dynamics were worth $97,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC acquired a new position in General Dynamics during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new position in shares of General Dynamics in the 4th quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics in the 1st quarter valued at approximately $29,000. Legend Financial Advisors Inc. raised its position in shares of General Dynamics by 46.8% in the 1st 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. Finally, Scarborough Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at approximately $33,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction 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 owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,486 shares of company stock valued at $34,391,642. 1.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GD. StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Royal Bank of Canada cut their target price on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. BTIG Research began coverage on General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Barclays upped their target price on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company upped their target price on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Five investment 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $303.24.

General Dynamics Stock Performance

GD traded down $2.25 during trading on Monday, reaching $287.89. 1,430,961 shares of the company were exchanged, compared to its average volume of 1,058,229. The stock has a market cap of $78.99 billion, a P/E ratio of 23.49, a PEG ratio of 1.65 and a beta of 0.64. The firm has a 50 day moving average of $294.27 and a 200 day moving average of $278.06. 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 Co. has a 52 week low of $211.94 and a 52 week high of $302.75.

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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter in the previous year, the company earned $2.64 earnings per share. General Dynamics’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 1.97%. General Dynamics’s payout ratio is 46.33%.

About General Dynamics

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.