Deroy & Devereaux Private Investment Counsel Inc. Has $248,000 Stake in General Dynamics Corporation (NYSE:GD)

Deroy & Devereaux Private Investment Counsel Inc. decreased its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 59.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 910 shares of the aerospace company's stock after selling 1,321 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in General Dynamics were worth $248,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Rialto Wealth Management LLC lifted its position in shares of General Dynamics by 213.8% during 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 period. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics during the first quarter worth $26,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of General Dynamics during the first quarter worth approximately $27,000. Copia Wealth Management bought a new position in shares of General Dynamics in the 4th quarter worth $27,000. Finally, Hoey Investments Inc. bought a new position in General Dynamics during the 4th quarter worth approximately $28,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Up 0.0%

Shares of GD stock traded up $0.08 during trading hours on Friday, reaching $294.00. 646,635 shares of the stock were exchanged, compared to its average volume of 1,395,994. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. The business's fifty day moving average is $278.76 and its two-hundred day moving average is $268.05. The firm has a market capitalization of $78.91 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.98 and a beta of 0.46. 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 announced its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter last year, the firm posted $2.88 EPS. The business's revenue was up 13.9% compared to the same quarter last year. As a group, research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid 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 2.04%. General Dynamics's dividend payout ratio (DPR) is 41.61%.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of General Dynamics stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on GD. Argus set a $295.00 price target on shares of General Dynamics in a research note on Tuesday, May 6th. TD Securities upped their price target 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. UBS Group increased their price objective on shares of General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Citigroup lowered their price target 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. Finally, Morgan Stanley cut 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. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $290.24.

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.