G&S Capital LLC Sells 424 Shares of General Dynamics Co. (NYSE:GD)

G&S Capital LLC trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 3.7% in the first quarter, HoldingsChannel reports. The firm owned 11,079 shares of the aerospace company’s stock after selling 424 shares during the quarter. General Dynamics accounts for about 1.4% of G&S Capital LLC’s holdings, making the stock its 16th largest holding. G&S Capital LLC’s holdings in General Dynamics were worth $3,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GD. Key Client Fiduciary Advisors LLC bought a new position in shares of General Dynamics during the first quarter worth approximately $221,000. Brookstone Capital Management grew its holdings in General Dynamics by 3.1% in the 1st quarter. Brookstone Capital Management now owns 21,368 shares of the aerospace company’s stock valued at $6,036,000 after buying an additional 651 shares in the last quarter. West Paces Advisors Inc. increased its position in General Dynamics by 52.7% during the 1st quarter. West Paces Advisors Inc. now owns 200 shares of the aerospace company’s stock worth $56,000 after buying an additional 69 shares during the period. First Financial Corp IN lifted its holdings in shares of General Dynamics by 29.2% during the first quarter. First Financial Corp IN now owns 921 shares of the aerospace company’s stock worth $260,000 after buying an additional 208 shares in the last quarter. Finally, New England Professional Planning Group Inc. boosted its position in shares of General Dynamics by 4.3% in the first quarter. New England Professional Planning Group Inc. now owns 1,736 shares of the aerospace company’s stock valued at $490,000 after acquiring an additional 72 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Dynamics

In other news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics 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 owns 768,977 shares in the company, valued at $218,773,956.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics 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 completion of the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock worth $34,391,642 in the last quarter. 1.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GD. Citigroup lifted their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Sanford C. Bernstein increased their price target on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Argus lifted their price objective on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, Barclays increased their target price on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $303.24.

General Dynamics Trading Down 0.2 %

Shares of General Dynamics stock opened at $294.65 on Thursday. The firm has a market capitalization of $80.84 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.68 and a beta of 0.64. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average is $293.89 and its 200 day moving average is $277.24. General Dynamics Co. has a 1 year low of $209.25 and a 1 year high of $302.75.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same quarter last year, the company posted $2.64 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts forecast that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) 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.