Man Group plc Sells 62,975 Shares of General Dynamics Co. (NYSE:GD)

Man Group plc trimmed its stake in General Dynamics Co. (NYSE:GD) by 60.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,014 shares of the aerospace company’s stock after selling 62,975 shares during the period. Man Group plc’s holdings in General Dynamics were worth $10,807,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Purus Wealth Management LLC raised its position in shares of General Dynamics by 1.5% during the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company’s stock valued at $701,000 after buying an additional 39 shares during the last quarter. Austin Wealth Management LLC raised its position in shares of General Dynamics by 5.4% during the fourth quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company’s stock valued at $220,000 after buying an additional 42 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of General Dynamics by 35.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company’s stock valued at $43,000 after buying an additional 43 shares during the last quarter. Stokes Family Office LLC raised its position in shares of General Dynamics by 0.4% during the fourth quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company’s stock valued at $2,708,000 after buying an additional 43 shares during the last quarter. Finally, ICW Investment Advisors LLC raised its position in shares of General Dynamics by 0.5% during the fourth quarter. ICW Investment Advisors LLC now owns 8,491 shares of the aerospace company’s stock valued at $2,237,000 after buying an additional 43 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics 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 sale, the senior vice president now owns 45,192 shares of the company’s stock, valued at $12,297,195.12. The trade was a 37.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $280.54 on Monday. 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 Co. has a 12 month low of $239.20 and a 12 month high of $316.90. The firm has a market capitalization of $75.29 billion, a PE ratio of 20.57, a P/E/G ratio of 1.69 and a beta of 0.49. The business has a 50-day moving average of $269.70 and a two-hundred day moving average of $268.65.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. During the same quarter last year, the firm earned $2.88 EPS. General Dynamics’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, research analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 11th were given a $1.50 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Friday, April 11th. This represents a $6.00 annualized dividend and a dividend yield of 2.14%. General Dynamics’s dividend payout ratio (DPR) is presently 41.61%.

Analyst Upgrades and Downgrades

GD has been the subject of a number of recent research reports. Susquehanna raised their target price on shares of General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Cowen reissued a “buy” rating on shares of General Dynamics in a report on Thursday, April 24th. Citigroup dropped their price objective on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, TD Cowen dropped their price objective on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $293.00.

About General Dynamics

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.