General Dynamics Corporation (NYSE:GD) Shares Sold by Private Trust Co. NA

Private Trust Co. NA cut its position in General Dynamics Corporation (NYSE:GD) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,462 shares of the aerospace company’s stock after selling 76 shares during the quarter. Private Trust Co. NA’s holdings in General Dynamics were worth $1,216,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC increased its stake in General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 62 shares during the period. Inlight Wealth Management LLC purchased a new position in shares of General Dynamics during the first quarter worth about $26,000. Copia Wealth Management acquired a new position in General Dynamics in the 4th quarter valued at about $27,000. Smallwood Wealth Investment Management LLC acquired a new position in General Dynamics in the 1st quarter valued at about $27,000. Finally, Hoey Investments Inc. purchased a new stake in General Dynamics during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

General Dynamics stock opened at $294.00 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $278.32 and its 200 day simple moving average is $267.85. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $316.90. The firm has a market capitalization of $78.91 billion, a PE ratio of 20.39, a P/E/G ratio of 1.98 and a beta of 0.46.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.88 EPS. On average, equities research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics’s dividend payout ratio is presently 41.61%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GD shares. Wells Fargo & Company dropped their target price on General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Citigroup dropped their price objective on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. TD Securities raised their target price on shares of General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. UBS Group boosted their price target on shares of General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Finally, Susquehanna raised their price objective on shares of General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $290.24.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the sale, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at $217,898,829.91. This trade represents a 18.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

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.