Illinois Municipal Retirement Fund Decreases Stock Position in General Dynamics Co. (NYSE:GD)

Illinois Municipal Retirement Fund lessened its position in General Dynamics Co. (NYSE:GD) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,984 shares of the aerospace company’s stock after selling 2,342 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in General Dynamics were worth $3,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Regent Peak Wealth Advisors LLC lifted its position in shares of General Dynamics by 0.4% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock valued at $2,812,000 after acquiring an additional 41 shares in the last quarter. Cornercap Investment Counsel Inc. lifted its position in General Dynamics by 0.4% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 10,377 shares of the aerospace company’s stock worth $2,695,000 after buying an additional 41 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in General Dynamics by 6.5% during the third quarter. EverSource Wealth Advisors LLC now owns 687 shares of the aerospace company’s stock worth $152,000 after buying an additional 42 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in General Dynamics by 2.3% during the third quarter. Raleigh Capital Management Inc. now owns 1,846 shares of the aerospace company’s stock worth $408,000 after buying an additional 42 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its position in General Dynamics by 3.3% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,304 shares of the aerospace company’s stock worth $339,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on GD. Alembic Global Advisors downgraded General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective on the stock. in a research report on Monday, January 29th. Susquehanna lifted their target price on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. UBS Group lifted their target price on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research report on Monday, January 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 note on Tuesday, April 16th. Finally, StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $283.80.

General Dynamics Stock Down 4.0 %

General Dynamics stock opened at $281.15 on Thursday. General Dynamics Co. has a fifty-two week low of $202.35 and a fifty-two week high of $296.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. The company has a market capitalization of $77.14 billion, a P/E ratio of 23.39, a PEG ratio of 1.86 and a beta of 0.68. The stock has a 50-day simple moving average of $280.26 and a 200-day simple moving average of $261.22.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.04). The firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.39 billion. General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.58 earnings per share. Equities research analysts expect that General Dynamics Co. will post 14.56 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 2.02%. General Dynamics’s dividend payout ratio is currently 47.25%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, EVP Mark C. Roualet sold 73,330 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the sale, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the sale, the chief executive officer now owns 773,977 shares in the company, valued at approximately $204,569,860.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Roualet sold 73,330 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the sale, the executive vice president now owns 149,205 shares in the company, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. 1.52% of the stock is owned by company insiders.

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.