Cannon Advisors Inc. Decreases Position in General Dynamics Corporation (NYSE:GD)

Cannon Advisors Inc. trimmed its position in General Dynamics Corporation (NYSE:GD - Free Report) by 77.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,009 shares of the aerospace company's stock after selling 6,789 shares during the period. Cannon Advisors Inc.'s holdings in General Dynamics were worth $548,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GD. Rialto Wealth Management LLC increased its position in General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after buying an additional 62 shares in the last quarter. Inlight Wealth Management LLC purchased a new stake in shares of General Dynamics in the first quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Dynamics during the fourth quarter valued at $26,000. Smallwood Wealth Investment Management LLC bought a new position in General Dynamics in the 1st quarter worth about $27,000. Finally, Copia Wealth Management purchased a new stake in General Dynamics during the 4th quarter valued at about $27,000. Institutional investors own 86.14% of the company's stock.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at $215,828,587.08. This represents a 0.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is owned by insiders.

General Dynamics Stock Performance

Shares of GD stock traded up $0.08 during mid-day trading on Friday, reaching $294.00. 646,635 shares of the company's stock traded hands, compared to its average volume of 1,395,994. The firm has a market capitalization of $78.91 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.98 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. The firm has a 50 day moving average price of $278.32 and a two-hundred day moving average price of $267.85. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90.

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

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders 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 dividend yield of 2.04%. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

Analysts Set New Price Targets

Several research analysts have issued reports on GD shares. Susquehanna lifted their target price on shares of General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a report on Wednesday, April 2nd. Citigroup decreased their price objective 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. TD Securities lifted their target price on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. UBS Group upped their price target on General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Finally, Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, General Dynamics 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.