California Public Employees Retirement System Decreases Stock Holdings in General Dynamics Co. (NYSE:GD)

California Public Employees Retirement System reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 567,770 shares of the aerospace company’s stock after selling 15,842 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of General Dynamics worth $106,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First PREMIER Bank acquired a new position in General Dynamics during the 2nd quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in General Dynamics during the 1st quarter valued at about $32,000. Solstein Capital LLC acquired a new position in General Dynamics during the 1st quarter valued at about $32,000. Twin Lakes Capital Management LLC acquired a new position in General Dynamics during the 1st quarter valued at about $36,000. Finally, KB Financial Partners LLC acquired a new position in General Dynamics during the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 85.22% of the company’s stock.

NYSE GD opened at $203.39 on Thursday. The company has a market cap of $56.86 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 2.04 and a beta of 1.14. The stock’s 50 day simple moving average is $198.93 and its 200-day simple moving average is $192.47. General Dynamics Co. has a 1-year low of $129.17 and a 1-year high of $206.46. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.44 and a quick ratio of 1.05.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 28th. The aerospace company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.09. The business had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.23 billion. General Dynamics had a return on equity of 21.50% and a net margin of 8.52%. On average, equities research analysts anticipate that General Dynamics Co. will post 11.49 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Friday, October 8th will be given a $1.19 dividend. The ex-dividend date is Thursday, October 7th. This represents a $4.76 annualized dividend and a dividend yield of 2.34%. General Dynamics’s dividend payout ratio (DPR) is presently 43.27%.

A number of brokerages have recently weighed in on GD. Credit Suisse Group increased their price objective on General Dynamics from $182.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, July 29th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $208.00 price objective on the stock in a report on Thursday, August 5th. Cowen reissued a “buy” rating on shares of General Dynamics in a report on Monday, August 9th. Wells Fargo & Company increased their price objective on General Dynamics from $216.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, July 30th. Finally, The Goldman Sachs Group raised General Dynamics from a “sell” rating to a “neutral” rating and set a $176.00 price objective on the stock in a report on Thursday, September 23rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $208.45.

General Dynamics Company Profile

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

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

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