BTC Capital Management Inc. Has $2.02 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

BTC Capital Management Inc. grew its stake in General Dynamics Co. (NYSE:GD - Free Report) by 23.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,408 shares of the aerospace company's stock after acquiring an additional 1,416 shares during the quarter. BTC Capital Management Inc.'s holdings in General Dynamics were worth $2,019,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GD. GAMMA Investing LLC lifted its position in shares of General Dynamics by 34,578.2% during the first quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock worth $339,253,000 after purchasing an additional 1,241,011 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in General Dynamics during the 4th quarter worth $279,582,000. Raymond James Financial Inc. acquired a new position in General Dynamics in the 4th quarter worth $197,238,000. Vanguard Group Inc. grew its stake in shares of General Dynamics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock valued at $6,265,813,000 after acquiring an additional 706,317 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of General Dynamics by 7.4% in the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock worth $1,774,381,000 after acquiring an additional 463,497 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares of the company's stock, valued at approximately $12,297,195.12. This represents a 37.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company's stock.

General Dynamics Trading Down 1.0%

Shares of NYSE:GD traded down $2.81 during mid-day trading on Monday, hitting $275.68. The stock had a trading volume of 1,001,640 shares, compared to its average volume of 1,379,169. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The company has a market cap of $73.99 billion, a PE ratio of 20.21, a P/E/G ratio of 1.69 and a beta of 0.49. General Dynamics Co. has a 12-month low of $239.20 and a 12-month high of $316.90. The company's 50 day moving average is $272.24 and its 200-day moving average is $266.79.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.23. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.88 EPS. On average, sell-side analysts predict that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 11th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Friday, April 11th. This is a positive change from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's dividend payout ratio is currently 41.61%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GD shares. UBS Group boosted their price objective on General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Morgan Stanley reduced their price objective on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Susquehanna increased their target price on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company cut their target price on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, TD Securities increased their price objective 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 investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, General Dynamics presently has an average rating of "Hold" and an average price target of $293.00.

General Dynamics Company 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.