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

Blackhawk Capital Partners LLC. cut its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 71.2% in the 1st quarter, according to its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GD. Brighton Jones LLC lifted its stake in shares of General Dynamics by 16.9% in the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock worth $760,000 after acquiring an additional 417 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of General Dynamics in the 4th quarter worth approximately $49,935,000. Ashton Thomas Private Wealth LLC lifted its stake in shares of General Dynamics by 73.7% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 1,621 shares of the aerospace company's stock worth $427,000 after acquiring an additional 688 shares during the period. Amundi lifted its stake in shares of General Dynamics by 211.4% in the 4th quarter. Amundi now owns 99,740 shares of the aerospace company's stock worth $26,079,000 after acquiring an additional 67,712 shares during the period. Finally, NBT Bank N A NY lifted its stake in shares of General Dynamics by 0.3% in the 4th quarter. NBT Bank N A NY now owns 17,392 shares of the aerospace company's stock worth $4,583,000 after acquiring an additional 48 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the transaction, the chief executive officer directly owned 769,607 shares of the company's stock, valued at approximately $217,898,829.91. The trade was a 18.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GD. Morgan Stanley reduced their price target on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $298.00 to $342.00 in a report on Tuesday. Susquehanna boosted their target price on shares of General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a report on Wednesday, April 2nd. Wells Fargo & Company dropped their target price on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the stock a "hold" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, General Dynamics presently has an average rating of "Hold" and an average price target of $294.47.

General Dynamics Trading Up 1.0%

Shares of GD stock traded up $3.07 during trading hours on Wednesday, reaching $299.72. 1,134,380 shares of the stock traded hands, compared to its average volume of 1,397,894. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $316.90. The business has a fifty day moving average price of $279.72 and a 200 day moving average price of $268.57. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $80.44 billion, a PE ratio of 20.79, a PEG ratio of 1.99 and a beta of 0.46.

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

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's payout ratio is presently 41.61%.

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.