General Dynamics Co. (NYSE:GD) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in shares of General Dynamics Co. (NYSE:GD) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 334,706 shares of the aerospace company’s stock after acquiring an additional 8,585 shares during the period. Victory Capital Management Inc.’s holdings in General Dynamics were worth $86,913,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Briaud Financial Planning Inc acquired a new stake in shares of General Dynamics in the third quarter valued at about $27,000. Rakuten Securities Inc. acquired a new position in General Dynamics in the 4th quarter worth $38,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of General Dynamics during the fourth quarter worth about $38,000. Operose Advisors LLC purchased a new position in General Dynamics in the third quarter valued at about $40,000. Finally, Rational Advisors LLC acquired a new position in shares of General Dynamics in the 3rd quarter valued at approximately $42,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of NYSE GD opened at $288.14 on Friday. General Dynamics Co. has a one year low of $202.35 and a one year high of $296.50. The business’s 50-day moving average price is $282.18 and its two-hundred day moving average price is $263.05. 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 company has a market capitalization of $79.05 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 1.79 and a beta of 0.67.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.64 earnings per share. Analysts anticipate that General Dynamics Co. will post 14.55 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 10th. Shareholders of record on Friday, April 12th will be given a dividend of $1.42 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.97%. General Dynamics’s payout ratio is currently 46.33%.

Analysts Set New Price Targets

Several equities analysts have recently commented on GD shares. Wells Fargo & Company increased their price target on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday. UBS Group raised their target price on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Argus lifted their price target on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and raised their target price for the company from $305.00 to $335.00 in a research report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $297.06.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Phebe N. Novakovic sold 49,850 shares of the business’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 transaction of $14,182,325.00. Following the sale, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the sale, the vice president now owns 103,345 shares in the company, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

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.