General Dynamics Co. (NYSE:GD) Shares Sold by Ascent Group LLC

Ascent Group LLC cut its stake in General Dynamics Co. (NYSE:GD) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,315 shares of the aerospace company’s stock after selling 98 shares during the period. Ascent Group LLC’s holdings in General Dynamics were worth $2,349,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GD. Legend Financial Advisors Inc. lifted its stake in shares of General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 36 shares during the last quarter. Diversified Trust Co lifted its stake in shares of General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after acquiring an additional 36 shares during the last quarter. Fulton Bank N.A. lifted its stake in shares of General Dynamics by 1.1% in the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after acquiring an additional 37 shares during the last quarter. Copperwynd Financial LLC raised its position in General Dynamics by 3.7% during 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 during the last quarter. Finally, Woodward Diversified Capital LLC raised its position in General Dynamics by 2.3% during 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 during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William A. Moss sold 21,050 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $294.85, for a total transaction of $6,206,592.50. Following the completion of the transaction, the vice president now directly owns 16,624 shares of the company’s stock, valued at $4,901,586.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,069 shares of company stock valued at $16,295,101. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics Price Performance

Shares of NYSE GD traded down $0.91 during mid-day trading on Monday, hitting $289.49. 1,078,795 shares of the company’s stock traded hands, compared to its average volume of 1,072,839. The company has a market capitalization of $79.43 billion, a P/E ratio of 23.52, a PEG ratio of 1.66 and a beta of 0.60. General Dynamics Co. has a 1 year low of $214.53 and a 1 year high of $302.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The company’s 50-day moving average is $292.65 and its two-hundred day moving average is $282.60.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter in the previous year, the company posted $2.70 EPS. The business’s quarterly revenue was up 18.0% on a year-over-year basis. On average, equities analysts anticipate that General Dynamics Co. will post 14.51 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of General Dynamics in a report on Monday. Morgan Stanley boosted their target price on General Dynamics from $271.00 to $293.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Barclays boosted their target price on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. upped their price objective on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus price target of $311.33.

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.