Bartlett & CO. Wealth Management LLC Sells 10,789 Shares of General Dynamics Corporation $GD

Key Points

• Bartlett & CO. Wealth Management reduced its General Dynamics stake by 11.5% in Q1, selling 10,789 shares and leaving it with 82,776 shares worth about $29.0 million.
• Analyst sentiment is mixed but generally positive: General Dynamics has a Moderate Buy consensus, with an average price target of $391.15 after several firms raised or trimmed their targets and ratings.
• The company reported strong quarterly results, topping estimates with $4.10 EPS and $13.48 billion in revenue, and it also announced a $1.59 quarterly dividend payable August 7.

Bartlett & CO. Wealth Management LLC trimmed its position in General Dynamics Corporation (NYSE:GD - Free Report) by 11.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,776 shares of the aerospace company's stock after selling 10,789 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in General Dynamics were worth $29,028,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in General Dynamics by 16.9% in 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. Acadian Asset Management LLC grew its position in shares of General Dynamics by 140.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company's stock valued at $938,000 after acquiring an additional 2,011 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of General Dynamics in the 2nd quarter worth $240,000. Flow Traders U.S. LLC purchased a new stake in shares of General Dynamics in the 2nd quarter worth $352,000. Finally, Jump Financial LLC bought a new position in General Dynamics in the 2nd quarter worth $1,284,000. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup cut their price target on General Dynamics from $380.00 to $364.00 and set a "neutral" rating for the company in a report on Monday, May 18th. Weiss Ratings raised General Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 1st. UBS Group raised General Dynamics from a "neutral" rating to a "buy" rating in a research report on Thursday, June 11th. Bank of America boosted their price objective on General Dynamics from $400.00 to $415.00 and gave the company a "buy" rating in a research note on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Dynamics from $387.00 to $377.00 and set a "hold" rating for the company in a report on Wednesday, May 6th. 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 given a Sell rating to the stock. Based on data from MarketBeat, General Dynamics has a consensus rating of "Moderate Buy" and an average target price of $391.15.

Insider Buying and Selling

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value 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 represents a 33.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 38,975 shares of the company's stock, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 78,190 shares of company stock worth $27,041,022. 1.40% of the stock is owned by insiders.

General Dynamics Trading Up 0.0%

Shares of GD stock opened at $368.91 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The stock has a fifty day simple moving average of $352.73 and a two-hundred day simple moving average of $350.49. The firm has a market capitalization of $99.76 billion, a PE ratio of 23.22, a PEG ratio of 2.22 and a beta of 0.34. General Dynamics Corporation has a 52-week low of $293.95 and a 52-week high of $380.71.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.67 by $0.43. The business 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 business's revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.66 earnings per share. On average, analysts predict that General Dynamics Corporation will post 16.64 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be issued a $1.59 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. General Dynamics's payout ratio is currently 40.03%.

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.

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