General Dynamics Corporation (NYSE:GD) Shares Sold by Norden Group LLC

Norden Group LLC cut its holdings in shares of General Dynamics Corporation (NYSE:GD) by 5.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,296 shares of the aerospace company’s stock after selling 384 shares during the quarter. Norden Group LLC’s holdings in General Dynamics were worth $1,989,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GD. Rialto Wealth Management LLC raised its holdings in General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares in the last quarter. Inlight Wealth Management LLC acquired a new position in shares of General Dynamics in the first quarter valued at approximately $26,000. Copia Wealth Management purchased a new stake in shares of General Dynamics in the fourth quarter valued at $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Dynamics in the first quarter worth approximately $27,000. Finally, Hoey Investments Inc. acquired a new position in shares of General Dynamics in the 4th quarter valued at $28,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Down 0.1%

Shares of GD opened at $313.92 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The firm’s 50-day simple moving average is $287.67 and its 200 day simple moving average is $272.31. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $322.50. The firm has a market cap of $84.44 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 1.98 and a beta of 0.46.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The firm had revenue of $13.04 billion during the quarter, compared to analysts’ expectations of $12.13 billion. During the same period in the previous year, the firm earned $3.26 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 1.91%. General Dynamics’s dividend payout ratio is presently 40.27%.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on GD. TD Securities upped their price target on shares of General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Susquehanna raised their price objective on shares of General Dynamics from $315.00 to $365.00 and gave the stock a “positive” rating in a report on Thursday. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the company a “hold” rating in a research report on Wednesday, July 9th. Argus set a $295.00 price objective on General Dynamics in a research note on Tuesday, May 6th. Finally, Cowen restated a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $312.17.

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.