Bartlett & CO. Wealth Management LLC Sells 10,789 Shares of General Dynamics Corporation $GD

Bartlett & CO. Wealth Management LLC decreased its position in General Dynamics Corporation (NYSE:GD) by 11.5% during the first quarter, HoldingsChannel.com reports. The fund owned 82,776 shares of the aerospace company’s stock after selling 10,789 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in General Dynamics were worth $29,028,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GD. Vanguard Group Inc. increased its position in General Dynamics by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after purchasing an additional 528,769 shares during the last quarter. State Street Corp lifted its position in General Dynamics by 2.7% during the fourth quarter. State Street Corp now owns 11,323,170 shares of the aerospace company’s stock valued at $3,812,058,000 after purchasing an additional 294,456 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of General Dynamics by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company’s stock worth $2,039,742,000 after buying an additional 195,604 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of General Dynamics by 2.2% in the 4th quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company’s stock worth $1,786,786,000 after buying an additional 114,647 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of General Dynamics by 3.3% in the 4th quarter. Northern Trust Corp now owns 3,443,453 shares of the aerospace company’s stock worth $1,159,273,000 after buying an additional 110,536 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Trading Up 0.0%

Shares of GD opened at $368.91 on Friday. The company’s fifty day simple moving average is $352.73 and its 200-day simple moving average is $350.49. The company has a market cap of $99.76 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.22 and a beta of 0.34. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a twelve month low of $293.95 and a twelve month high of $380.71.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. The firm had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.66 EPS. As a group, analysts expect that General Dynamics Corporation will post 16.64 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be given a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s payout ratio is 40.03%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GD shares. The Goldman Sachs Group decreased their target price on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. Wells Fargo & Company initiated coverage on General Dynamics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price target for the company. Morgan Stanley boosted their price objective on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Citigroup decreased their price objective on General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Finally, BNP Paribas Exane lowered their price objective on General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $391.15.

Insider Activity at General Dynamics

In related news, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director directly owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 78,190 shares of company stock valued at $27,041,022 in the last 90 days. Company insiders own 1.40% of the company’s stock.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.