Mitsubishi UFJ Trust & Banking Corp Sells 4,357 Shares of General Dynamics Corporation $GD

Mitsubishi UFJ Trust & Banking Corp cut its stake in General Dynamics Corporation (NYSE:GD) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,863 shares of the aerospace company’s stock after selling 4,357 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in General Dynamics were worth $42,237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GD. Crowley Wealth Management Inc. grew its stake in General Dynamics by 1.4% in the third quarter. Crowley Wealth Management Inc. now owns 2,249 shares of the aerospace company’s stock valued at $767,000 after purchasing an additional 30 shares during the last quarter. 1858 Wealth Management LLC lifted its position in shares of General Dynamics by 1.0% during the second quarter. 1858 Wealth Management LLC now owns 3,256 shares of the aerospace company’s stock valued at $950,000 after buying an additional 32 shares during the last quarter. Nicholson Wealth Management Group LLC boosted its holdings in shares of General Dynamics by 0.5% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 6,582 shares of the aerospace company’s stock valued at $1,920,000 after buying an additional 33 shares in the last quarter. Gilbert & Cook Inc. grew its position in shares of General Dynamics by 1.4% in the 2nd quarter. Gilbert & Cook Inc. now owns 2,389 shares of the aerospace company’s stock worth $697,000 after buying an additional 33 shares during the last quarter. Finally, Columbus Macro LLC raised its stake in shares of General Dynamics by 0.4% during the 3rd quarter. Columbus Macro LLC now owns 8,644 shares of the aerospace company’s stock worth $2,948,000 after acquiring an additional 33 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley set a $385.00 price objective on General Dynamics in a report on Monday, October 27th. Vertical Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Monday, October 27th. The Goldman Sachs Group increased their price target on General Dynamics from $280.00 to $293.00 and gave the company a “sell” rating in a research note on Friday, October 10th. Finally, Wolfe Research boosted their price target on General Dynamics from $400.00 to $415.00 and gave the stock an “outperform” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $366.70.

Insider Transactions at General Dynamics

In other General Dynamics news, VP David Paddock sold 20,360 shares of General Dynamics stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $334.92, for a total transaction of $6,818,971.20. Following the completion of the sale, the vice president directly owned 36,644 shares in the company, valued at approximately $12,272,808.48. The trade was a 35.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

General Dynamics Stock Performance

Shares of GD stock opened at $363.60 on Monday. The business has a fifty day moving average of $346.14 and a 200 day moving average of $333.28. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $369.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87. The firm has a market capitalization of $98.22 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.79 and a beta of 0.41.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.19. General Dynamics had a return on equity of 18.27% and a net margin of 8.18%.The business had revenue of $12.91 billion for the quarter, compared to analyst estimates of $12.49 billion. During the same period in the prior year, the company earned $3.35 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. As a group, research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, January 16th. General Dynamics’s dividend payout ratio is 38.89%.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.