Pinnacle Financial Partners Inc Has $16.74 Million Stock Holdings in General Dynamics Corporation (NYSE:GD)

Pinnacle Financial Partners Inc grew its position in General Dynamics Corporation (NYSE:GD - Free Report) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,228 shares of the aerospace company's stock after acquiring an additional 915 shares during the quarter. Pinnacle Financial Partners Inc's holdings in General Dynamics were worth $16,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GD. Renasant Bank boosted its stake in General Dynamics by 46.8% during the 4th quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock valued at $858,000 after purchasing an additional 1,038 shares during the period. Advisory Resource Group raised its holdings in shares of General Dynamics by 7.1% during the first quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock valued at $5,234,000 after buying an additional 1,276 shares during the last quarter. Retirement Guys Formula LLC acquired a new position in shares of General Dynamics during the first quarter worth approximately $1,692,000. Quantbot Technologies LP grew its holdings in General Dynamics by 990.0% in the 4th quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company's stock worth $17,537,000 after buying an additional 60,451 shares in the last quarter. Finally, Independent Advisor Alliance increased its position in General Dynamics by 4.1% in the 4th quarter. Independent Advisor Alliance now owns 24,328 shares of the aerospace company's stock valued at $6,410,000 after acquiring an additional 955 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Down 0.2%

Shares of NYSE GD traded down $0.48 during mid-day trading on Wednesday, reaching $293.90. 1,086,609 shares of the company traded hands, compared to its average volume of 1,395,547. The company's fifty day moving average is $277.32 and its two-hundred day moving average is $267.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $316.90. The stock has a market cap of $78.88 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.96 and a beta of 0.46.

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 the consensus estimate of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter last year, the company posted $2.88 earnings per share. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The firm 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 2.04%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's dividend payout ratio is currently 41.61%.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly owned 769,607 shares in the company, valued at $217,898,829.91. This trade represents a 18.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on GD. UBS Group increased their price target on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Cowen reissued a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Wells Fargo & Company reduced their price target on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Citigroup lowered their price objective on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Argus set a $295.00 price objective on General Dynamics in a research note on Tuesday, May 6th. One equities 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, General Dynamics has a consensus 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.