General Dynamics Co. (NYSE:GD) Shares Sold by Commerce Bank

Commerce Bank trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,995 shares of the aerospace company’s stock after selling 1,707 shares during the quarter. Commerce Bank’s holdings in General Dynamics were worth $18,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Eudaimonia Partners LLC acquired a new position in shares of General Dynamics in the fourth quarter valued at about $240,000. Benjamin F. Edwards & Company Inc. lifted its stake in General Dynamics by 188.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 40,830 shares of the aerospace company’s stock valued at $10,602,000 after acquiring an additional 26,668 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of General Dynamics by 99.3% in the 4th quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock valued at $7,542,000 after acquiring an additional 14,468 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of General Dynamics in the fourth quarter worth $1,056,000. Finally, Gladstone Capital Management LLP acquired a new position in General Dynamics during the fourth quarter valued at $3,869,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the sale, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The disclosure for this sale can be found here. Insiders have sold 118,486 shares of company stock valued at $34,391,642 over the last ninety days. Company insiders own 1.60% of the company’s stock.

General Dynamics Price Performance

GD traded up $1.84 during trading on Wednesday, reaching $281.35. The company’s stock had a trading volume of 327,198 shares, compared to its average volume of 1,050,403. The company has a market cap of $77.19 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.60 and a beta of 0.60. The firm has a fifty day simple moving average of $293.78 and a two-hundred day simple moving average of $279.60. General Dynamics Co. has a 1 year low of $212.58 and a 1 year high of $302.75. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the previous year, the business posted $2.64 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts anticipate that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, July 5th. General Dynamics’s payout ratio is currently 46.33%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GD. Robert W. Baird reiterated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. upped their price objective on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Susquehanna increased their price target on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. The Goldman Sachs Group raised their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Sanford C. Bernstein increased their target price on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $305.56.

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.