General Dynamics Corporation (NYSE:GD) Position Cut by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. lessened its holdings in shares of General Dynamics Corporation (NYSE:GD) by 4.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 10,598 shares of the aerospace company’s stock after selling 440 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in General Dynamics were worth $2,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. 1858 Wealth Management LLC increased its stake in shares of General Dynamics by 1.2% during the first quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company’s stock valued at $879,000 after acquiring an additional 38 shares during the period. Keystone Financial Services increased its position in shares of General Dynamics by 1.6% during the 1st quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company’s stock valued at $660,000 after purchasing an additional 38 shares during the period. Pure Financial Advisors LLC raised its stake in shares of General Dynamics by 0.7% in the 1st quarter. Pure Financial Advisors LLC now owns 6,025 shares of the aerospace company’s stock worth $1,642,000 after buying an additional 39 shares in the last quarter. Thrive Wealth Management LLC lifted its holdings in shares of General Dynamics by 2.1% in the first quarter. Thrive Wealth Management LLC now owns 2,002 shares of the aerospace company’s stock valued at $546,000 after buying an additional 41 shares during the period. Finally, Austin Wealth Management LLC boosted its stake in General Dynamics by 5.4% during the fourth quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company’s stock valued at $220,000 after buying an additional 42 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $280.44, for a total value of $2,142,281.16. Following the transaction, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

General Dynamics Stock Up 0.0%

GD stock opened at $294.00 on Friday. The company has a 50 day moving average of $278.76 and a two-hundred day moving average of $268.09. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $316.90. The company has a market cap of $78.91 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.98 and a beta of 0.46.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the business earned $2.88 EPS. On average, equities analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 2.04%. General Dynamics’s dividend payout ratio (DPR) is currently 41.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GD shares. Cowen reissued a “buy” rating on shares of General Dynamics in a report on Wednesday, June 25th. TD Cowen increased their target price on shares of General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Susquehanna raised their target price on shares of General Dynamics from $300.00 to $315.00 and gave the stock a “positive” rating in a report on Wednesday, April 2nd. Morgan Stanley dropped their price target on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company reduced their price objective on General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $290.24.

About General Dynamics

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.