General Dynamics Co. (NYSE:GD) Shares Sold by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC cut its holdings in General Dynamics Co. (NYSE:GD) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,574 shares of the aerospace company’s stock after selling 55 shares during the quarter. Prosperity Consulting Group LLC’s holdings in General Dynamics were worth $678,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GD. Financial Life Planners purchased a new position in General Dynamics in the 4th quarter valued at $25,000. Whipplewood Advisors LLC acquired a new stake in shares of General Dynamics during the 4th quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of General Dynamics in the 4th quarter valued at approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in General Dynamics during the fourth quarter worth $28,000. Finally, Heck Capital Advisors LLC purchased a new position in General Dynamics during the 4th quarter valued at about $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Dynamics

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now owns 45,192 shares of the company’s stock, valued at $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the transaction, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

General Dynamics Stock Performance

Shares of GD stock opened at $272.30 on Monday. General Dynamics Co. has a 12-month low of $239.20 and a 12-month high of $316.90. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock has a 50 day simple moving average of $264.21 and a 200-day simple moving average of $271.77. The company has a market cap of $73.08 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.92 billion. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. On average, equities analysts forecast that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a yield of 2.20%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio is presently 41.61%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. BTIG Research cut shares of General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. Barclays decreased their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Citigroup cut their price target on General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Cowen reiterated a “buy” rating on shares of General Dynamics in a research note on Thursday. Finally, Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and cut their target price for the stock from $352.00 to $290.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Dynamics presently has a consensus rating of “Hold” and a consensus price target of $293.83.

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.