General Dynamics Corporation (NYSE:GD) Position Trimmed by M&T Bank Corp

M&T Bank Corp lowered its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 9.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 47,430 shares of the aerospace company's stock after selling 4,890 shares during the period. M&T Bank Corp's holdings in General Dynamics were worth $12,928,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Renasant Bank grew its position in shares of 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 acquiring an additional 1,038 shares during the last quarter. Retirement Guys Formula LLC bought a new position in General Dynamics in the 1st quarter valued at about $1,692,000. Advisory Resource Group grew its position in General Dynamics by 7.1% in the 1st 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 in the last quarter. Quantbot Technologies LP grew its position in General Dynamics by 990.0% in the 4th quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company's stock valued at $17,537,000 after buying an additional 60,451 shares in the last quarter. Finally, Independent Advisor Alliance grew 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 buying an additional 955 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $296.91 on Wednesday. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $316.90. The firm has a market cap of $79.69 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.98 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. The business has a fifty day moving average of $279.72 and a 200-day moving average of $268.57.

General Dynamics (NYSE:GD - Get Free Report) last announced 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. 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 during the quarter, compared to analyst estimates of $11.92 billion. During the same period last year, the company posted $2.88 earnings per share. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.02%. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of research analyst reports. Argus set a $295.00 price target on shares of General Dynamics in a report on Tuesday, May 6th. Citigroup reduced their price target on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. TD Securities increased their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Finally, Wells Fargo & Company lowered their price target on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $293.00.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 7,639 shares of General Dynamics stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the sale, the chief executive officer directly owned 769,607 shares in the company, valued at $215,828,587.08. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company's stock.

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.

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