Commerce Bank Buys 775 Shares of General Dynamics Corporation (NYSE:GD)

Commerce Bank boosted its stake in General Dynamics Corporation (NYSE:GD) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,953 shares of the aerospace company’s stock after acquiring an additional 775 shares during the period. Commerce Bank’s holdings in General Dynamics were worth $17,432,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GD. Rialto Wealth Management LLC raised its position in shares of General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 62 shares during the period. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics in the first quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of General Dynamics in the first quarter valued at approximately $27,000. Copia Wealth Management bought a new stake in shares of General Dynamics in the fourth quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of General Dynamics in the fourth quarter valued at approximately $28,000. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, Director Leon Rudy F. De sold 5,490 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the sale, the director directly owned 5,483 shares of the company’s stock, valued at approximately $1,715,137.23. This represents a 50.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the sale, the executive vice president directly owned 39,875 shares in the company, valued at $12,452,165. This trade represents a 52.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 268,370 shares of company stock worth $78,408,011 in the last three months. 1.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on GD. TD Cowen upped their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Citigroup upped their target price on shares of General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Wells Fargo & Company decreased their target price on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Robert W. Baird upped their target price on shares of General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, UBS Group upped their target price on shares of General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $315.78.

General Dynamics Stock Down 0.4%

Shares of NYSE GD opened at $310.45 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $322.50. The firm has a market capitalization of $83.51 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48. The firm has a fifty day simple moving average of $291.05 and a two-hundred day simple moving average of $273.88.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.27. The company had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. General Dynamics’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $3.26 EPS. Equities analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s dividend payout ratio (DPR) is presently 40.27%.

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.