General Dynamics Co. (NYSE:GD) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC lessened its stake in General Dynamics Co. (NYSE:GD) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 741,965 shares of the aerospace company’s stock after selling 19,254 shares during the quarter. General Dynamics accounts for about 2.2% of Cullen Capital Management LLC’s portfolio, making the stock its 18th largest holding. Cullen Capital Management LLC’s holdings in General Dynamics were worth $195,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in General Dynamics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock valued at $6,265,813,000 after buying an additional 706,317 shares in the last quarter. Wellington Management Group LLP increased its stake in General Dynamics by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock worth $4,292,851,000 after buying an additional 109,618 shares in the last quarter. State Street Corp raised its holdings in shares of General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after acquiring an additional 943,247 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of General Dynamics by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 5,688,672 shares of the aerospace company’s stock valued at $1,496,939,000 after acquiring an additional 131,268 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of General Dynamics by 3.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,706,250 shares of the aerospace company’s stock worth $449,580,000 after acquiring an additional 59,944 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 7.3 %

General Dynamics stock opened at $249.94 on Friday. The stock’s fifty day moving average is $258.75 and its two-hundred day moving average is $275.74. The stock has a market cap of $67.08 billion, a PE ratio of 18.32, a P/E/G ratio of 1.69 and a beta of 0.43. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. On average, sell-side analysts expect that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.40%. General Dynamics’s dividend payout ratio (DPR) is 43.99%.

Insiders Place Their Bets

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares of the company’s stock, valued at $12,297,195.12. This represents a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. reduced their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Barclays decreased their price target on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $300.00 price objective (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $298.59.

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.