Blackhawk Capital Partners LLC. Cuts Holdings in General Dynamics Corporation (NYSE:GD)

Blackhawk Capital Partners LLC. decreased its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 71.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,369 shares of the aerospace company's stock after selling 3,386 shares during the quarter. Blackhawk Capital Partners LLC.'s holdings in General Dynamics were worth $373,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GD. Rialto Wealth Management LLC boosted its position in General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after purchasing an additional 62 shares in the last quarter. Inlight Wealth Management LLC purchased a new position in General Dynamics during the first quarter worth approximately $26,000. Copia Wealth Management purchased a new position in General Dynamics during the fourth quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC purchased a new position in General Dynamics during the first quarter worth approximately $27,000. Finally, Hoey Investments Inc. purchased a new position in General Dynamics during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Performance

Shares of General Dynamics stock traded up $1.07 on Wednesday, hitting $297.72. The stock had a trading volume of 388,410 shares, compared to its average volume of 1,392,671. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $316.90. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock has a market cap of $79.91 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 1.98 and a beta of 0.46. The company's 50 day moving average price is $279.72 and its 200 day moving average price is $268.57.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The company's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.88 EPS. On average, research analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

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

Analyst Ratings Changes

GD has been the topic of several research reports. UBS Group raised their target price on General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and raised their target price for the company from $298.00 to $342.00 in a research report on Tuesday. Argus set a $295.00 target price on General Dynamics in a research report on Tuesday, May 6th. Citigroup decreased their target price 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. Finally, TD Cowen raised their target price on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $293.00.

Insider Buying and Selling at General Dynamics

In other General Dynamics 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 transaction of $50,629,589.73. Following the transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at $217,898,829.91. This represents a 18.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.

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.