Kentucky Retirement Systems Has $4.97 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Kentucky Retirement Systems trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 17,133 shares of the aerospace company’s stock after selling 109 shares during the period. Kentucky Retirement Systems’ holdings in General Dynamics were worth $4,971,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Redmont Wealth Advisors LLC bought a new stake in shares of General Dynamics in the 1st quarter worth about $25,000. Richardson Financial Services Inc. acquired a new position in General Dynamics in the fourth quarter valued at about $25,000. American Capital Advisory LLC bought a new stake in General Dynamics during the second quarter worth about $29,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics during the first quarter worth approximately $29,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics in the 1st quarter worth approximately $29,000. Institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

Shares of GD stock opened at $304.77 on Friday. General Dynamics Co. has a 12 month low of $214.53 and a 12 month high of $309.97. The company’s fifty day simple moving average is $294.33 and its 200-day simple moving average is $290.74. The firm has a market cap of $83.62 billion, a PE ratio of 24.86, a P/E/G ratio of 1.64 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the firm earned $2.70 earnings per share. Equities research analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Analyst Ratings Changes

A number of analysts have recently weighed in on GD shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of General Dynamics in a research note on Monday, July 29th. Barclays raised their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Robert W. Baird reiterated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. BTIG Research initiated coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $315.06.

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.