Essex LLC Sells 1,050 Shares of General Dynamics Corporation (NYSE:GD)

Essex LLC reduced its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 11,879 shares of the aerospace company's stock after selling 1,050 shares during the quarter. Essex LLC's holdings in General Dynamics were worth $3,238,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC increased its position in General Dynamics by 16.9% during the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock valued at $760,000 after purchasing an additional 417 shares during the period. Whipplewood Advisors LLC acquired a new position in General Dynamics in the fourth quarter valued at approximately $26,000. Versor Investments LP increased its stake in shares of General Dynamics by 50.1% in the 4th quarter. Versor Investments LP now owns 1,798 shares of the aerospace company's stock valued at $474,000 after acquiring an additional 600 shares in the last quarter. SVB Wealth LLC bought a new stake in General Dynamics in the fourth quarter valued at $336,000. Finally, Maripau Wealth Management LLC bought a new stake in General Dynamics in the 4th quarter valued at about $203,000. Institutional investors own 86.14% of the company's stock.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $283.13, for a total value of $50,629,589.73. Following the sale, the chief executive officer now owns 769,607 shares in the company, valued at approximately $217,898,829.91. This trade represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GD shares. TD Securities boosted their target price on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Wells Fargo & Company dropped their target price on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley reduced their target price on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. UBS Group increased their price target on General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Citigroup cut their price objective on General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $290.24.

General Dynamics Price Performance

NYSE GD opened at $290.83 on Monday. 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 company has a market cap of $78.06 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.96 and a beta of 0.46. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $316.90. The firm's 50-day simple moving average is $276.55 and its two-hundred day simple moving average is $267.09.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 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 company had revenue of $12.22 billion for the quarter, compared to analysts' expectations of $11.92 billion. During the same period in the prior year, the company posted $2.88 EPS. General Dynamics's revenue was up 13.9% compared to the same quarter last year. Research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

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.

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