Price T Rowe Associates Inc. MD Decreases Position in General Dynamics Co. (NYSE:GD)

Posted by on Mar 14th, 2023

Price T Rowe Associates Inc. MD trimmed its holdings in shares of General Dynamics Co. (NYSE:GD – Get Rating) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 299,338 shares of the aerospace company’s stock after selling 3,249 shares during the period. Price T Rowe Associates Inc. MD owned about 0.11% of General Dynamics worth $63,512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Certified Advisory Corp bought a new stake in General Dynamics in the 1st quarter worth $25,000. Wagner Wealth Management LLC bought a new stake in shares of General Dynamics in the second quarter worth about $32,000. Coston McIsaac & Partners purchased a new position in General Dynamics during the 2nd quarter valued at about $32,000. Annapolis Financial Services LLC bought a new position in General Dynamics during the 3rd quarter valued at approximately $36,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in General Dynamics by 104.4% in the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 184 shares of the aerospace company’s stock worth $39,000 after buying an additional 94 shares during the period. 84.83% of the stock is owned by institutional investors.

General Dynamics Stock Down 1.0 %

Shares of NYSE:GD opened at $218.79 on Tuesday. General Dynamics Co. has a 12-month low of $207.42 and a 12-month high of $256.86. The stock has a market capitalization of $60.04 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 2.02 and a beta of 0.84. The stock has a fifty day simple moving average of $233.77 and a two-hundred day simple moving average of $237.26. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 0.50.

General Dynamics (NYSE:GD – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The aerospace company reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.53 by $0.05. The company had revenue of $10.85 billion for the quarter, compared to analysts’ expectations of $10.66 billion. General Dynamics had a net margin of 8.60% and a return on equity of 18.93%. General Dynamics’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.39 EPS. On average, research analysts anticipate that General Dynamics Co. will post 12.74 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Investors of record on Friday, April 14th will be given a $1.32 dividend. The ex-dividend date of this dividend is Thursday, April 13th. This is a boost from General Dynamics’s previous quarterly dividend of $1.26. This represents a $5.28 annualized dividend and a yield of 2.41%. General Dynamics’s dividend payout ratio is 43.28%.

Insider Buying and Selling at General Dynamics

In other news, VP Mark Lagrand Burns sold 27,600 shares of the business’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $226.93, for a total value of $6,263,268.00. Following the completion of the transaction, the vice president now owns 56,909 shares in the company, valued at $12,914,359.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of recent analyst reports. Susquehanna decreased their target price on General Dynamics from $285.00 to $263.00 in a report on Thursday, January 26th. Credit Suisse Group dropped their target price on shares of General Dynamics from $240.00 to $222.00 and set a “neutral” rating for the company in a research report on Thursday, January 26th. Cowen increased their price target on shares of General Dynamics from $260.00 to $285.00 in a research note on Tuesday, January 3rd. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Citigroup lowered their target price on General Dynamics from $298.00 to $283.00 and set a “buy” rating for the company in a research note on Thursday, January 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $267.15.

General Dynamics Company Profile

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General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver state-of-the-art solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets.

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

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