General Dynamics Corporation (NYSE:GD) Shares Sold by Evanson Asset Management LLC

Evanson Asset Management LLC cut its stake in shares of General Dynamics Corporation (NYSE:GD) by 10.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 857 shares of the aerospace company’s stock after selling 100 shares during the period. Evanson Asset Management LLC’s holdings in General Dynamics were worth $234,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GD. Brighton Jones LLC raised its position in General Dynamics by 16.9% during the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after acquiring an additional 417 shares during the period. Kestra Investment Management LLC acquired a new position in General Dynamics during the fourth quarter worth $59,000. Global Retirement Partners LLC grew its holdings in shares of General Dynamics by 14.9% during the fourth quarter. Global Retirement Partners LLC now owns 2,125 shares of the aerospace company’s stock worth $560,000 after buying an additional 276 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of General Dynamics by 23.6% during the fourth quarter. Private Advisor Group LLC now owns 22,462 shares of the aerospace company’s stock worth $5,919,000 after buying an additional 4,295 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of General Dynamics by 2.0% during the fourth quarter. Concurrent Investment Advisors LLC now owns 15,479 shares of the aerospace company’s stock worth $4,079,000 after buying an additional 300 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Argus set a $295.00 target price on shares of General Dynamics in a report on Tuesday, May 6th. Citigroup dropped their target price on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a report on Thursday, April 10th. William Blair lowered shares of General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Finally, TD Securities upped their target price on shares of General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $293.00.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the sale, the chief executive officer now owns 769,607 shares of the company’s stock, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

General Dynamics Trading Down 0.0%

Shares of GD stock opened at $278.46 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. The firm has a market cap of $74.74 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.87 and a beta of 0.46. The company has a 50-day moving average of $275.58 and a two-hundred day moving average of $266.58. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $316.90.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.23. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. General Dynamics’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.88 earnings per share. On average, analysts predict that General Dynamics Corporation will post 14.83 EPS for the current 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 paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s dividend payout ratio (DPR) is presently 41.61%.

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.