BTC Capital Management Inc. Has $4.92 Million Stake in General Dynamics Corporation $GD

BTC Capital Management Inc. boosted its stake in shares of General Dynamics Corporation (NYSE:GD) by 18.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,320 shares of the aerospace company’s stock after acquiring an additional 2,244 shares during the quarter. BTC Capital Management Inc.’s holdings in General Dynamics were worth $4,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dunhill Financial LLC grew its holdings in shares of General Dynamics by 620.0% in the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new position in General Dynamics during the 3rd quarter valued at about $25,000. Dagco Inc. bought a new position in General Dynamics during the 4th quarter valued at about $25,000. Burkett Financial Services LLC boosted its position in General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after buying an additional 65 shares in the last quarter. Finally, Steph & Co. grew its stake in General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after buying an additional 30 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the transaction, the director owned 10,643 shares in the company, valued at approximately $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 78,190 shares of company stock worth $27,041,022 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

GD has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. Weiss Ratings lowered General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 19th. DA Davidson dropped their price target on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Finally, BNP Paribas Exane reduced their price objective on General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $388.40.

General Dynamics Price Performance

GD opened at $344.31 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The stock has a market capitalization of $93.11 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 2.17 and a beta of 0.34. The company’s 50 day simple moving average is $341.49 and its 200-day simple moving average is $347.46. General Dynamics Corporation has a one year low of $281.13 and a one year high of $369.70.

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

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be given a dividend of $1.59 per share. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics’s payout ratio is presently 40.03%.

About General Dynamics

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.