General Dynamics Co. (NYSE:GD) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in General Dynamics Co. (NYSE:GD) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 127,098 shares of the aerospace company’s stock after selling 730 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in General Dynamics were worth $35,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. raised its position in General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares in the last quarter. Diversified Trust Co increased its stake in General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after purchasing an additional 36 shares in the last quarter. Fulton Bank N.A. increased its stake in General Dynamics by 1.1% in the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after purchasing an additional 37 shares in the last quarter. Copperwynd Financial LLC increased its stake in General Dynamics by 3.7% in the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 38 shares in the last quarter. Finally, Woodward Diversified Capital LLC increased its stake in General Dynamics by 2.3% in the 4th quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock worth $448,000 after purchasing an additional 39 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of NYSE GD traded up $1.61 during trading hours on Wednesday, reaching $281.12. The stock had a trading volume of 406,708 shares, compared to its average volume of 1,051,010. The business’s fifty day moving average is $293.78 and its two-hundred day moving average is $279.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The company has a market cap of $77.13 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.60 and a beta of 0.60. General Dynamics Co. has a twelve month low of $212.58 and a twelve month 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 for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter last year, the company earned $2.64 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. As a group, research analysts expect that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced 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 2.02%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s payout ratio is presently 46.33%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Sanford C. Bernstein lifted their price target on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. JPMorgan Chase & Co. boosted their price target on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Citigroup boosted their price target on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Susquehanna boosted their price target on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Finally, Wells Fargo & Company boosted their price target on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $305.56.

Insider Transactions at General Dynamics

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the transaction, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the sale, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,486 shares of company stock worth $34,391,642. Insiders own 1.60% of the company’s stock.

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.