General Dynamics Corporation $GD Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE reduced its position in shares of General Dynamics Corporation (NYSE:GD) by 48.2% in the first quarter, HoldingsChannel.com reports. The firm owned 5,214 shares of the aerospace company’s stock after selling 4,846 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in General Dynamics were worth $1,790,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of General Dynamics by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after purchasing an additional 528,769 shares during the period. Modern Wealth Management LLC lifted its holdings in shares of General Dynamics by 114.7% during the third quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company’s stock valued at $2,088,000 after purchasing an additional 3,271 shares during the last quarter. Jain Global LLC boosted its position in shares of General Dynamics by 97.8% in the 3rd quarter. Jain Global LLC now owns 169,305 shares of the aerospace company’s stock valued at $57,733,000 after purchasing an additional 83,692 shares during the period. M&T Bank Corp increased its stake in General Dynamics by 155.6% in the 4th quarter. M&T Bank Corp now owns 104,773 shares of the aerospace company’s stock worth $35,273,000 after purchasing an additional 63,781 shares in the last quarter. Finally, Financial Planning Hawaii Inc. acquired a new stake in General Dynamics during the 4th quarter worth about $1,103,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Trading Up 2.5%

Shares of NYSE GD opened at $363.11 on Thursday. General Dynamics Corporation has a one year low of $290.30 and a one year high of $369.70. The firm has a market capitalization of $98.20 billion, a PE ratio of 22.85, a PEG ratio of 2.19 and a beta of 0.34. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $342.97 and a two-hundred day moving average price of $347.92.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.66 EPS. As a group, analysts predict that General Dynamics Corporation will post 16.63 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be paid a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio is currently 40.03%.

Insider Activity at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the transaction, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Malcolm sold 5,480 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the transaction, the director directly owned 10,643 shares in the company, valued at $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 78,190 shares of company stock worth $27,041,022. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on GD shares. UBS Group raised shares of General Dynamics from a “neutral” rating to a “buy” rating in a research note on Thursday, June 11th. The Goldman Sachs Group dropped their target price on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. DA Davidson reduced their price target on shares of General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Wells Fargo & Company began coverage on shares of General Dynamics in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, Wall Street Zen upgraded shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $388.40.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.