Stokes Family Office LLC Has $2.72 Million Stake in General Dynamics Co. (NYSE:GD)

Stokes Family Office LLC reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 25.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,476 shares of the aerospace company’s stock after selling 3,586 shares during the quarter. Stokes Family Office LLC’s holdings in General Dynamics were worth $2,720,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in General Dynamics by 0.6% in the third quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock valued at $4,955,023,000 after purchasing an additional 133,061 shares in the last quarter. Wellington Management Group LLP increased its position in shares of General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after buying an additional 1,755,276 shares in the last quarter. Sanders Capital LLC increased its position in shares of General Dynamics by 0.4% in the 3rd quarter. Sanders Capital LLC now owns 4,017,057 shares of the aerospace company’s stock valued at $887,649,000 after buying an additional 17,061 shares in the last quarter. FMR LLC lifted its holdings in General Dynamics by 13.7% during the third quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after acquiring an additional 275,947 shares in the last quarter. Finally, Northern Trust Corp grew its stake in General Dynamics by 4.5% in the third quarter. Northern Trust Corp now owns 2,258,362 shares of the aerospace company’s stock valued at $499,030,000 after acquiring an additional 97,789 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

NYSE:GD traded up $0.78 during mid-day trading on Friday, hitting $288.14. The stock had a trading volume of 973,927 shares, compared to its average volume of 1,116,386. The company’s 50 day simple moving average is $282.18 and its 200 day simple moving average is $263.05. The stock has a market cap of $79.05 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.79 and a beta of 0.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $296.50.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion for the quarter, compared to the consensus estimate 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 was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.64 earnings per share. On average, equities research analysts forecast that General Dynamics Co. will post 14.55 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be given a $1.42 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a dividend yield of 1.97%. General Dynamics’s payout ratio is presently 46.33%.

Insider Transactions at General Dynamics

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the transaction, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The shares were 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 in the company, valued at $29,816,065.95. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Alembic Global Advisors lowered General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective for the company. in a research report on Monday, January 29th. Citigroup increased their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group upped their target price on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Barclays increased their price objective on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, UBS Group raised their price target on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $297.06.

General Dynamics 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.