General Dynamics Corporation (NYSE:GD) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel trimmed its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 9.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,671 shares of the aerospace company's stock after selling 884 shares during the period. Carnegie Investment Counsel's holdings in General Dynamics were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of GD. Rialto Wealth Management LLC increased its holdings in shares of 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 buying an additional 62 shares during the last quarter. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics in the 1st quarter worth about $26,000. Copia Wealth Management purchased a new position in shares of General Dynamics during the 4th quarter worth about $27,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of General Dynamics during the 1st quarter worth about $27,000. Finally, Hoey Investments Inc. purchased a new position in shares of General Dynamics during the 4th quarter worth about $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Down 0.1%

Shares of GD traded down $0.33 during mid-day trading on Friday, hitting $313.92. The company's stock had a trading volume of 1,218,137 shares, compared to its average volume of 1,276,632. The company's 50-day moving average is $287.67 and its 200-day moving average is $272.15. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $322.50. The firm has a market capitalization of $84.44 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.06 and a beta of 0.46. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.47 by $0.27. The firm had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. General Dynamics's revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.26 EPS. On average, equities research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 1.91%. General Dynamics's dividend payout ratio (DPR) is presently 40.27%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GD shares. Jefferies Financial Group set a $325.00 price target on shares of General Dynamics and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Wolfe Research raised shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target for the company in a research note on Thursday. Citigroup lifted their price target on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, UBS Group boosted their price objective on shares of General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $312.17.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were 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 owned 769,607 shares in the company, valued at $217,898,829.91. The trade was a 18.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by company insiders.

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.