Chevy Chase Trust Holdings LLC Has $36.40 Million Stake in General Dynamics Corporation (NYSE:GD)

Chevy Chase Trust Holdings LLC reduced its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 133,519 shares of the aerospace company's stock after selling 3,128 shares during the period. Chevy Chase Trust Holdings LLC's holdings in General Dynamics were worth $36,395,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hickory Point Bank & Trust acquired a new position in General Dynamics during the fourth quarter worth $692,000. Jones Financial Companies Lllp increased its stake in shares of General Dynamics by 45.4% during the 4th quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company's stock worth $21,228,000 after purchasing an additional 25,144 shares during the last quarter. U S Global Investors Inc. raised its holdings in shares of General Dynamics by 18.6% in the 4th quarter. U S Global Investors Inc. now owns 79,450 shares of the aerospace company's stock valued at $20,934,000 after purchasing an additional 12,453 shares during the period. Renasant Bank grew its holdings in General Dynamics by 46.8% during the fourth quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock worth $858,000 after purchasing an additional 1,038 shares during the period. Finally, Advisory Resource Group increased its position in General Dynamics by 7.1% during the first quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock worth $5,234,000 after buying an additional 1,276 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Securities lifted their target price on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. UBS Group lifted their price objective on shares of General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. 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 report on Thursday, April 24th. Susquehanna raised their target price on shares of General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research note on Wednesday, April 2nd. Finally, TD Cowen increased their price target on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, General Dynamics currently has a consensus rating of "Hold" and an average price target of $293.28.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the company'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 value of $50,629,589.73. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.50% of the company's stock.

General Dynamics Price Performance

Shares of GD stock traded up $5.72 on Thursday, reaching $291.63. The company had a trading volume of 1,715,285 shares, compared to its average volume of 1,395,103. The stock has a market capitalization of $78.27 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.89 and a beta of 0.46. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. The business's 50-day moving average is $275.93 and its 200 day moving average is $266.76. General Dynamics Corporation has a one year low of $239.20 and a one year high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating analysts' consensus estimates 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 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 quarter last year, the business posted $2.88 earnings per share. 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 announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 2.06%. General Dynamics's payout ratio is presently 41.61%.

About General Dynamics

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.