Primecap Management Co. CA Sells 9,790 Shares of General Dynamics Co. (NYSE:GD)

Primecap Management Co. CA lowered its position in General Dynamics Co. (NYSE:GD) by 1.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 842,650 shares of the aerospace company’s stock after selling 9,790 shares during the period. Primecap Management Co. CA’s holdings in General Dynamics were worth $218,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Johnson Financial Group Inc. lifted its position in shares of General Dynamics by 12.5% during the 4th quarter. Johnson Financial Group Inc. now owns 370 shares of the aerospace company’s stock worth $96,000 after buying an additional 41 shares during the period. Nixon Peabody Trust Co. lifted its position in shares of General Dynamics by 448.3% during the 4th quarter. Nixon Peabody Trust Co. now owns 53,757 shares of the aerospace company’s stock worth $13,959,000 after buying an additional 43,953 shares during the period. Advisory Services Network LLC lifted its position in shares of General Dynamics by 39.0% during the 4th quarter. Advisory Services Network LLC now owns 23,756 shares of the aerospace company’s stock worth $6,169,000 after buying an additional 6,660 shares during the period. Hoylecohen LLC raised its position in General Dynamics by 9.1% in the 4th quarter. Hoylecohen LLC now owns 3,691 shares of the aerospace company’s stock valued at $958,000 after purchasing an additional 308 shares during the last quarter. Finally, ProVise Management Group LLC raised its position in General Dynamics by 3.7% in the 4th quarter. ProVise Management Group LLC now owns 27,088 shares of the aerospace company’s stock valued at $7,034,000 after purchasing an additional 957 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GD. Royal Bank of Canada cut their price objective on General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $305.00 to $335.00 in a research report on Monday, April 29th. The Goldman Sachs Group lifted their price objective on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Alembic Global Advisors downgraded General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective for the company. in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. lifted their price objective on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $300.63.

Insider Buying and Selling

In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of General Dynamics stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $288.00, for a total transaction of $740,160.00. Following the transaction, the director now directly owns 5,518 shares in the company, valued at $1,589,184. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Leon Rudy F. De sold 2,570 shares of General Dynamics stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the transaction, the director now owns 5,518 shares in the company, valued at $1,589,184. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock valued at $34,391,642 over the last three months. Company insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 1.0 %

Shares of General Dynamics stock traded up $3.10 during trading on Friday, reaching $299.62. 784,155 shares of the company were exchanged, compared to its average volume of 962,608. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $301.48. The business has a 50-day moving average price of $289.09 and a 200-day moving average price of $269.41. The firm has a market capitalization of $82.20 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 1.69 and a beta of 0.67.

General Dynamics (NYSE:GD) last announced 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 analyst estimates of $10.26 billion. During the same period last year, the firm earned $2.64 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were paid a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.90%. General Dynamics’s payout ratio is 46.33%.

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.