Park Place Capital Corp Sells 326 Shares of General Dynamics Co. (NYSE:GD)

Park Place Capital Corp reduced its position in shares of General Dynamics Co. (NYSE:GD) by 48.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 342 shares of the aerospace company’s stock after selling 326 shares during the quarter. Park Place Capital Corp’s holdings in General Dynamics were worth $97,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GD. Norges Bank acquired a new position in shares of General Dynamics during the fourth quarter worth about $728,284,000. Wellington Management Group LLP boosted its position in General Dynamics by 12.0% during the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after purchasing an additional 1,755,276 shares during the last quarter. International Assets Investment Management LLC boosted its position in General Dynamics by 10,763.2% during the fourth quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock valued at $239,829,000 after purchasing an additional 915,091 shares during the last quarter. 1832 Asset Management L.P. boosted its position in General Dynamics by 3,645.4% during the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after purchasing an additional 543,672 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in General Dynamics during the fourth quarter valued at approximately $43,733,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GD. Barclays increased their price target on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Sanford C. Bernstein increased their price target on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Wells Fargo & Company increased their price target on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Royal Bank of Canada dropped their price objective on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the company from $305.00 to $335.00 in a research note on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $303.24.

Insider Buying and Selling

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Insiders have sold 118,486 shares of company stock valued at $34,391,642 over the last 90 days. 1.52% of the stock is owned by corporate insiders.

General Dynamics Stock Performance

Shares of NYSE GD traded down $2.25 during trading hours on Monday, reaching $287.89. 1,430,961 shares of the stock were exchanged, compared to its average volume of 1,058,229. The firm has a market capitalization of $78.99 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 1.65 and a beta of 0.64. 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 52 week low of $211.94 and a 52 week high of $302.75. The stock’s fifty day simple moving average is $294.27 and its 200 day simple moving average is $278.06.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The firm 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%. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $2.64 EPS. Sell-side analysts predict that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio is currently 46.33%.

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.