Blackhawk Capital Partners LLC. Trims Stock Position in General Dynamics Corporation (NYSE:GD)

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

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its position in General Dynamics by 16.9% during the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock valued at $760,000 after purchasing an additional 417 shares during the period. Proficio Capital Partners LLC purchased a new stake in General Dynamics during the fourth quarter valued at approximately $49,935,000. Ashton Thomas Private Wealth LLC raised its position in General Dynamics by 73.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 1,621 shares of the aerospace company's stock valued at $427,000 after purchasing an additional 688 shares during the period. Amundi raised its position in General Dynamics by 211.4% during the fourth quarter. Amundi now owns 99,740 shares of the aerospace company's stock valued at $26,079,000 after purchasing an additional 67,712 shares during the period. Finally, NBT Bank N A NY raised its position in General Dynamics by 0.3% during the fourth quarter. NBT Bank N A NY now owns 17,392 shares of the aerospace company's stock valued at $4,583,000 after purchasing an additional 48 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GD. TD Cowen upped their price objective on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Citigroup reduced their price target on General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company reduced 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. UBS Group increased their price objective on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley dropped their price objective on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $294.47.

General Dynamics Stock Up 1.1%

Shares of GD traded up $3.38 during midday trading on Thursday, hitting $303.34. 1,180,424 shares of the company's stock traded hands, compared to its average volume of 1,397,747. 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 capitalization of $81.42 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.99 and a beta of 0.46. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $316.90. The firm's fifty day moving average is $280.27 and its 200-day moving average is $268.78.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.88 EPS. As a group, sell-side analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 1.98%. General Dynamics's dividend payout ratio (DPR) is 41.61%.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $283.13, for a total value of $50,629,589.73. Following the completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at $217,898,829.91. This trade represents a 18.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is owned by company insiders.

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.