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 1.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,508 shares of the aerospace company’s stock after selling 1,590 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in General Dynamics were worth $36,415,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Legend Financial Advisors Inc. increased its holdings 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 grew its stake in General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after buying an additional 36 shares during the last quarter. Fulton Bank N.A. boosted its position in General Dynamics by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after acquiring an additional 37 shares during the period. Copperwynd Financial LLC boosted 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 acquiring an additional 38 shares during the period. Finally, Woodward Diversified Capital LLC boosted 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 acquiring an additional 39 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the company from $305.00 to $335.00 in a report on Monday, April 29th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Barclays upped their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. BTIG Research initiated coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Stock Performance

Shares of GD stock traded down $1.18 during trading on Wednesday, reaching $294.62. The company had a trading volume of 364,997 shares, compared to its average volume of 1,055,165. The firm’s 50 day simple moving average is $290.89 and its two-hundred day simple moving average is $286.73. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. General Dynamics Co. has a one year low of $214.53 and a one year high of $302.75. The company has a market capitalization of $80.83 billion, a PE ratio of 24.13, a PEG ratio of 1.68 and a beta of 0.60.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the business earned $2.70 EPS. Sell-side analysts forecast that General Dynamics Co. will post 14.5 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

General Dynamics 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.