Rosenbaum Jay D. Sells 2,621 Shares of General Dynamics Co. (NYSE:GD)

Rosenbaum Jay D. lowered its stake in General Dynamics Co. (NYSE:GD) by 51.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,451 shares of the aerospace company’s stock after selling 2,621 shares during the period. General Dynamics comprises 1.6% of Rosenbaum Jay D.’s holdings, making the stock its 17th largest position. Rosenbaum Jay D.’s holdings in General Dynamics were worth $636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC purchased a new stake in shares of General Dynamics in the fourth quarter worth $25,000. Briaud Financial Planning Inc bought a new position in shares of General Dynamics during the third quarter valued at $27,000. Wetzel Investment Advisors Inc. bought a new position in shares of General Dynamics during the fourth quarter valued at $38,000. Rakuten Securities Inc. bought a new position in shares of General Dynamics during the fourth quarter valued at $38,000. Finally, Friedenthal Financial bought a new position in General Dynamics in the fourth quarter valued at about $45,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

GD stock traded up $0.95 during mid-day trading on Wednesday, reaching $298.01. 882,678 shares of the company’s stock were exchanged, compared to its average volume of 1,086,650. The company has a market cap of $81.76 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67. The stock’s 50 day moving average is $287.73 and its 200 day moving average is $268.44. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $301.48.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.64 EPS. On average, research analysts expect that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 12th were given a dividend of $1.42 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Insider Transactions at General Dynamics

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the sale, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock worth $34,391,642 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays increased their target price on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. upped their price target on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Company upped their price target on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and upped their price target for the stock from $305.00 to $335.00 in a research report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $300.53.

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.