General Dynamics Corporation (NYSE:GD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,651,720 shares of the aerospace company's stock after selling 54,530 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.62% of General Dynamics worth $450,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of General Dynamics by 34,578.2% in the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock valued at $339,253,000 after acquiring an additional 1,241,011 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth $279,582,000. Raymond James Financial Inc. purchased a new position in General Dynamics in the 4th quarter valued at $197,238,000. Vanguard Group Inc. raised its position in General Dynamics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock worth $6,265,813,000 after buying an additional 706,317 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of General Dynamics by 7.4% in the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock valued at $1,774,381,000 after acquiring an additional 463,497 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Phebe N. Novakovic sold 7,639 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the completion of the transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at $215,828,587.08. This represents a 0.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is owned by company insiders.

General Dynamics Trading Up 0.0%

Shares of NYSE:GD traded up $0.08 during trading on Friday, reaching $294.00. The stock had a trading volume of 646,635 shares, compared to its average volume of 1,397,425. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $316.90. The business has a fifty day moving average price of $278.76 and a 200-day moving average price of $268.09. The stock has a market cap of $78.91 billion, a P/E ratio of 20.39, a PEG ratio of 1.98 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.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $11.92 billion. During the same quarter in the prior year, the company posted $2.88 EPS. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's payout ratio is 41.61%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut 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 report on Tuesday, April 8th. Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Argus set a $295.00 price target on General Dynamics in a report on Tuesday, May 6th. Citigroup dropped their price objective on General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Susquehanna boosted their target price on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average 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.