Archford Capital Strategies LLC Sells 5,536 Shares of General Dynamics Corporation (NYSE:GD)

Archford Capital Strategies LLC lessened its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 72.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,063 shares of the aerospace company's stock after selling 5,536 shares during the quarter. Archford Capital Strategies LLC's holdings in General Dynamics were worth $562,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hickory Point Bank & Trust acquired a new stake in shares of General Dynamics during the 4th quarter valued at about $692,000. Jones Financial Companies Lllp raised its position in General Dynamics by 45.4% during the fourth quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company's stock valued at $21,228,000 after acquiring an additional 25,144 shares in the last quarter. U S Global Investors Inc. lifted its stake in General Dynamics by 18.6% in the fourth quarter. U S Global Investors Inc. now owns 79,450 shares of the aerospace company's stock valued at $20,934,000 after acquiring an additional 12,453 shares during the last quarter. Renasant Bank grew its position in General Dynamics by 46.8% in the fourth quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock worth $858,000 after acquiring an additional 1,038 shares in the last quarter. Finally, Advisory Resource Group increased its stake in shares of General Dynamics by 7.1% during the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock worth $5,234,000 after purchasing an additional 1,276 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Performance

Shares of GD traded down $1.46 during trading hours on Friday, reaching $289.93. 196,818 shares of the company traded hands, compared to its average volume of 1,391,132. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $316.90. The stock has a market cap of $77.82 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 1.92 and a beta of 0.46. The stock's fifty day moving average is $276.24 and its 200 day moving average is $266.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34.

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

General Dynamics Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 2.07%. General Dynamics's payout ratio is currently 41.61%.

Analysts Set New Price Targets

GD has been the subject of several analyst reports. TD Securities lifted their price objective on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. TD Cowen boosted their price target on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday. Cowen reissued a "buy" rating on shares of General Dynamics in a report on Wednesday. Morgan Stanley reduced their target price on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, Susquehanna increased their price target on General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, General Dynamics has an average rating of "Hold" and a consensus target price of $290.24.

Insider Activity

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

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.