Alaska Permanent Fund Corp Has $405,000 Stock Position in General Dynamics Co. (NYSE:GD)

Alaska Permanent Fund Corp lowered its position in shares of General Dynamics Co. (NYSE:GD) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,559 shares of the aerospace company’s stock after selling 61 shares during the quarter. Alaska Permanent Fund Corp’s holdings in General Dynamics were worth $405,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Briaud Financial Planning Inc purchased a new position in General Dynamics during the 3rd quarter valued at about $27,000. Impact Partnership Wealth LLC grew its position in General Dynamics by 411.5% during the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 107 shares in the last quarter. Rakuten Securities Inc. acquired a new position in General Dynamics in the 4th quarter valued at approximately $38,000. Wetzel Investment Advisors Inc. purchased a new stake in General Dynamics in the 4th quarter worth approximately $38,000. Finally, Operose Advisors LLC acquired a new stake in shares of General Dynamics during the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GD. UBS Group increased their price objective on General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Royal Bank of Canada reduced their price target on General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday. The Goldman Sachs Group raised their price objective on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Citigroup boosted their target price on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays raised their price target on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $285.63.

General Dynamics Price Performance

NYSE GD opened at $284.41 on Friday. The stock has a market capitalization of $78.03 billion, a PE ratio of 23.20, a P/E/G ratio of 1.81 and a beta of 0.68. The stock has a 50-day simple moving average of $280.86 and a 200 day simple moving average of $261.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $296.50.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the prior year, the company posted $2.64 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. Research analysts anticipate that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.52% of the stock is owned by corporate insiders.

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.