ING Groep NV Sells 558 Shares of General Dynamics Corporation (NYSE:GD)

ING Groep NV reduced its stake in shares of General Dynamics Corporation (NYSE:GD) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,401 shares of the aerospace company’s stock after selling 558 shares during the period. ING Groep NV’s holdings in General Dynamics were worth $8,832,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rialto Wealth Management LLC boosted its holdings in General Dynamics by 213.8% in the 1st 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 bought a new stake in General Dynamics in the 1st quarter valued at $26,000. Copia Wealth Management bought a new stake in General Dynamics in the 4th quarter valued at $27,000. Smallwood Wealth Investment Management LLC bought a new stake in General Dynamics in the 1st quarter valued at $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in General Dynamics during the fourth quarter worth $28,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Trading Up 0.6%

Shares of NYSE GD opened at $312.62 on Tuesday. The company’s 50 day simple moving average is $291.81 and its 200 day simple moving average is $274.29. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $322.50. The firm has a market capitalization of $84.09 billion, a P/E ratio of 20.98, a P/E/G ratio of 1.90 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83.

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 net margin of 8.13% and a return on equity of 17.99%. The business had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. During the same period in the prior year, the business posted $3.26 earnings per share. General Dynamics’s revenue was up 8.9% compared to the same quarter last year. On average, analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 1.9%. General Dynamics’s dividend payout ratio (DPR) is presently 40.27%.

Insider Buying and Selling

In related news, Director Leon Rudy F. De sold 5,490 shares of General Dynamics stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the transaction, the director owned 5,483 shares of the company’s stock, valued at $1,715,137.23. This trade represents a 50.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Phebe N. Novakovic sold 178,821 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $283.13, for a total value of $50,629,589.73. Following the completion of the transaction, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at approximately $217,898,829.91. The trade was a 18.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 268,370 shares of company stock valued at $78,408,011 in the last 90 days. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Argus set a $295.00 price target on shares of General Dynamics in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of General Dynamics from $284.00 to $345.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. TD Securities upped their price target on General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Finally, Cowen reiterated a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $315.78.

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.