Blackhawk Capital Partners LLC. Sells 3,386 Shares of General Dynamics Corporation (NYSE:GD)

Blackhawk Capital Partners LLC. lowered its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 71.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of GD. Renasant Bank grew its holdings in General Dynamics by 46.8% in the fourth quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock worth $858,000 after purchasing an additional 1,038 shares during the period. Retirement Guys Formula LLC purchased a new stake in General Dynamics in the first quarter worth about $1,692,000. Advisory Resource Group grew its holdings in General Dynamics by 7.1% in the first quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock worth $5,234,000 after purchasing an additional 1,276 shares during the period. Quantbot Technologies LP grew its holdings in General Dynamics by 990.0% in the fourth quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company's stock worth $17,537,000 after purchasing an additional 60,451 shares during the period. Finally, Independent Advisor Alliance grew its holdings in General Dynamics by 4.1% in the fourth quarter. Independent Advisor Alliance now owns 24,328 shares of the aerospace company's stock worth $6,410,000 after purchasing an additional 955 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Performance

General Dynamics stock traded down $1.18 during midday trading on Friday, reaching $302.20. 952,540 shares of the company traded hands, compared to its average volume of 1,399,583. The firm has a market capitalization of $81.11 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 2.02 and a beta of 0.46. The business has a 50 day moving average of $281.48 and a two-hundred day moving average of $269.29. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.88 earnings per share. As a group, research analysts predict 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. Shareholders of record on Thursday, July 3rd will be given a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 1.99%. General Dynamics's payout ratio is presently 41.61%.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. TD Cowen upped their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Argus set a $295.00 price objective on shares of General Dynamics in a report on Tuesday, May 6th. TD Securities upped their price objective on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Susquehanna increased their price target on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a report on Wednesday, April 2nd. Finally, Citigroup cut their price target on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $294.47.

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.