Triangle Securities Wealth Management Sells 290 Shares of General Dynamics Co. (NYSE:GD)

Triangle Securities Wealth Management lowered its position in General Dynamics Co. (NYSE:GDGet Rating) by 6.7% during the 4th quarter, HoldingsChannel reports. The firm owned 4,011 shares of the aerospace company’s stock after selling 290 shares during the period. Triangle Securities Wealth Management’s holdings in General Dynamics were worth $995,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of General Dynamics by 4.5% in the third quarter. Vanguard Group Inc. now owns 21,906,138 shares of the aerospace company’s stock worth $4,647,825,000 after purchasing an additional 952,906 shares during the period. Massachusetts Financial Services Co. MA grew its position in General Dynamics by 33.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,074,113 shares of the aerospace company’s stock worth $1,288,745,000 after acquiring an additional 1,529,207 shares in the last quarter. Northern Trust Corp grew its position in General Dynamics by 4.3% in the second quarter. Northern Trust Corp now owns 2,430,036 shares of the aerospace company’s stock worth $537,646,000 after acquiring an additional 100,963 shares in the last quarter. Bank of New York Mellon Corp grew its position in General Dynamics by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 1,862,536 shares of the aerospace company’s stock worth $395,175,000 after acquiring an additional 57,554 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in General Dynamics by 31.5% in the second quarter. Goldman Sachs Group Inc. now owns 1,411,406 shares of the aerospace company’s stock worth $312,273,000 after acquiring an additional 337,999 shares in the last quarter. Institutional investors own 84.83% of the company’s stock.

Insider Buying and Selling

In related news, VP Mark Lagrand Burns sold 27,600 shares of the stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $226.93, for a total value of $6,263,268.00. Following the completion of the transaction, the vice president now directly owns 56,909 shares of the company’s stock, valued at $12,914,359.37. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on GD. JPMorgan Chase & Co. cut their target price on shares of General Dynamics from $260.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, January 27th. Susquehanna cut their target price on shares of General Dynamics from $285.00 to $263.00 in a research report on Thursday, January 26th. Morgan Stanley upped their price target on shares of General Dynamics from $243.00 to $248.00 in a research report on Thursday, January 26th. Citigroup cut their price target on shares of General Dynamics from $298.00 to $283.00 and set a “buy” rating for the company in a research report on Thursday, January 26th. Finally, Robert W. Baird cut their price target on shares of General Dynamics from $290.00 to $268.00 in a research report on Thursday, January 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $267.15.

General Dynamics Trading Down 0.9 %

Shares of General Dynamics stock traded down $1.90 during trading on Friday, reaching $218.15. 2,413,857 shares of the stock were exchanged, compared to its average volume of 1,251,543. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 0.50. The stock’s fifty day moving average is $231.53 and its 200 day moving average is $236.80. The firm has a market cap of $59.87 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84. General Dynamics Co. has a 1 year low of $207.42 and a 1 year high of $256.86.

General Dynamics (NYSE:GDGet Rating) last posted its earnings results on Wednesday, January 25th. The aerospace company reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.53 by $0.05. The company had revenue of $10.85 billion during the quarter, compared to analyst estimates of $10.66 billion. General Dynamics had a net margin of 8.60% and a return on equity of 18.93%. General Dynamics’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.39 earnings per share. As a group, equities research analysts expect that General Dynamics Co. will post 12.74 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Friday, April 14th will be issued a dividend of $1.32 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.26. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Thursday, April 13th. General Dynamics’s dividend payout ratio is currently 41.31%.

General Dynamics Company Profile

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General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver state-of-the-art solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets.

See Also

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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