Public Employees Retirement Association of Colorado Decreases Stake in General Dynamics Co. (NYSE:GD)

Public Employees Retirement Association of Colorado lowered its stake in General Dynamics Co. (NYSE:GD) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,402 shares of the aerospace company’s stock after selling 1,859 shares during the period. Public Employees Retirement Association of Colorado’s holdings in General Dynamics were worth $8,073,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ellis Investment Partners LLC boosted its stake in shares of General Dynamics by 16,833.7% during the 1st quarter. Ellis Investment Partners LLC now owns 960,820 shares of the aerospace company’s stock worth $960,000 after purchasing an additional 955,146 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of General Dynamics by 18,507.6% during the second quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock valued at $92,628,000 after acquiring an additional 921,307 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of General Dynamics by 8.1% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,365,297 shares of the aerospace company’s stock valued at $569,677,000 after acquiring an additional 252,900 shares during the period. Longview Asset Management LLC boosted its holdings in shares of General Dynamics by 0.7% during the first quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock valued at $5,569,043,000 after acquiring an additional 215,179 shares during the period. Finally, Conning Inc. boosted its holdings in shares of General Dynamics by 2,626.5% during the second quarter. Conning Inc. now owns 210,949 shares of the aerospace company’s stock valued at $38,355,000 after acquiring an additional 203,212 shares during the period. 86.84% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on the stock. Goldman Sachs Group raised shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price target for the company in a report on Sunday, May 19th. JPMorgan Chase & Co. raised shares of General Dynamics from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $171.00 price objective for the company in a report on Monday, June 3rd. UBS Group upped their price objective on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, Morgan Stanley upped their price objective on shares of General Dynamics from $171.00 to $173.00 and gave the stock an “underweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $191.47.

In related news, Director William A. Osborn sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $182.56, for a total value of $273,840.00. Following the completion of the sale, the director now owns 37,585 shares of the company’s stock, valued at approximately $6,861,517.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Gary L. Whited sold 14,029 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the completion of the sale, the vice president now directly owns 37,542 shares of the company’s stock, valued at approximately $7,072,161.96. The disclosure for this sale can be found here. Insiders own 7.10% of the company’s stock.

NYSE GD opened at $184.13 on Friday. The stock’s 50-day moving average price is $183.68 and its two-hundred day moving average price is $174.35. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.70. The company has a market cap of $52.89 billion, a PE ratio of 16.12, a PEG ratio of 1.77 and a beta of 1.21. General Dynamics Co. has a 1 year low of $143.87 and a 1 year high of $207.72.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.09. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.36 billion. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.82 EPS. Research analysts forecast that General Dynamics Co. will post 11.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.08 annualized dividend and a yield of 2.22%. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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

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