Bartlett & CO. Wealth Management LLC Sells 3,069 Shares of General Dynamics Corporation (NYSE:GD)

Bartlett & CO. Wealth Management LLC decreased its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 141,595 shares of the aerospace company's stock after selling 3,069 shares during the quarter. Bartlett & CO. Wealth Management LLC owned 0.05% of General Dynamics worth $38,596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GD. Rialto Wealth Management LLC grew its stake in General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after acquiring an additional 62 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of General Dynamics in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in General Dynamics in the fourth quarter worth approximately $26,000. Inlight Wealth Management LLC purchased a new position in General Dynamics during the 1st quarter worth $26,000. Finally, Copia Wealth Management bought a new stake in General Dynamics during the 4th quarter valued at $27,000. 86.14% of the stock is owned by institutional investors.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $283.13, for a total value of $50,629,589.73. Following the completion of the sale, the chief executive officer now directly owns 769,607 shares in the company, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.

General Dynamics Stock Up 2.0%

Shares of NYSE GD opened at $291.63 on Friday. The firm has a market cap of $78.27 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 1.92 and a beta of 0.46. 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 Corporation has a 1 year low of $239.20 and a 1 year high of $316.90. The firm's 50 day moving average price is $276.24 and its 200 day moving average price is $266.91.

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

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's payout ratio is currently 41.61%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Citigroup cut their price target on General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. UBS Group upped their price objective on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research report on Wednesday. Finally, TD Cowen boosted their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $290.24.

General Dynamics Profile

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.

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