Victory Capital Management Inc. Has $86.91 Million Stock Position in General Dynamics Co. (NYSE:GD)

Victory Capital Management Inc. boosted its holdings in General Dynamics Co. (NYSE:GD) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 334,706 shares of the aerospace company’s stock after acquiring an additional 8,585 shares during the quarter. Victory Capital Management Inc. owned 0.12% of General Dynamics worth $86,913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. boosted its holdings in General Dynamics by 2.2% during the third quarter. Stratos Wealth Partners LTD. now owns 8,403 shares of the aerospace company’s stock worth $1,857,000 after purchasing an additional 181 shares during the last quarter. Intellectus Partners LLC grew its position in General Dynamics by 8.9% during the third quarter. Intellectus Partners LLC now owns 3,134 shares of the aerospace company’s stock valued at $693,000 after buying an additional 255 shares during the period. Canal Capital Management LLC grew its position in shares of General Dynamics by 7.1% during the 3rd quarter. Canal Capital Management LLC now owns 17,304 shares of the aerospace company’s stock valued at $3,824,000 after acquiring an additional 1,154 shares during the period. Lindbrook Capital LLC raised its holdings in shares of General Dynamics by 55.9% in the 3rd quarter. Lindbrook Capital LLC now owns 711 shares of the aerospace company’s stock worth $157,000 after purchasing an additional 255 shares during the period. Finally, Verdence Capital Advisors LLC increased its position in General Dynamics by 10.4% in the third quarter. Verdence Capital Advisors LLC now owns 7,382 shares of the aerospace company’s stock worth $1,631,000 after buying an additional 696 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GD shares. Susquehanna lifted their price objective on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Wells Fargo & Company raised their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday. Barclays increased their target price on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Alembic Global Advisors downgraded General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price for the company. in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $297.06.

General Dynamics Stock Up 0.3 %

Shares of GD opened at $288.14 on Friday. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $296.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The stock has a 50 day simple moving average of $282.18 and a two-hundred day simple moving average of $263.05. The firm has a market cap of $79.05 billion, a P/E ratio of 23.50, a P/E/G ratio of 1.79 and a beta of 0.67.

General Dynamics (NYSE:GD) last released 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 net margin of 7.85% and a return on equity of 16.48%. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.64 EPS. On average, analysts forecast that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a dividend of $1.42 per share. The ex-dividend date 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 yield of 1.97%. General Dynamics’s dividend payout ratio is currently 46.33%.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the transaction, the chief executive officer now directly 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 can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the transaction, 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 own 1.52% of the company’s stock.

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.