General Dynamics Corporation (NYSE:GD) Shares Sold by HM Payson & Co.

HM Payson & Co. reduced its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 131,926 shares of the aerospace company's stock after selling 1,301 shares during the quarter. HM Payson & Co.'s holdings in General Dynamics were worth $35,960,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of General Dynamics by 34,578.2% in the first quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock valued at $339,253,000 after buying an additional 1,241,011 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in General Dynamics during the fourth quarter worth approximately $279,582,000. Raymond James Financial Inc. acquired a new stake in General Dynamics during the fourth quarter worth approximately $197,238,000. Vanguard Group Inc. grew its stake in General Dynamics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock worth $6,265,813,000 after purchasing an additional 706,317 shares during the period. Finally, Capital Research Global Investors grew its stake in General Dynamics by 7.4% during the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock worth $1,774,381,000 after purchasing an additional 463,497 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the sale, the chief executive officer directly owned 769,607 shares of the company's stock, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.50% of the company's stock.

General Dynamics Trading Up 0.0%

NYSE:GD traded up $0.08 during midday trading on Friday, hitting $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 one year low of $239.20 and a one year high of $316.90. The company has a market capitalization of $78.91 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.98 and a beta of 0.46. The stock has a 50-day moving average of $278.76 and a 200 day moving average of $268.09. 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 announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business had revenue of $12.22 billion for the quarter, compared to analysts' expectations of $11.92 billion. During the same quarter last year, the firm earned $2.88 EPS. The business's revenue for the quarter was up 13.9% on a year-over-year basis. As a group, sell-side analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The business 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's dividend payout ratio is currently 41.61%.

Wall Street Analyst Weigh In

GD has been the subject of a number of research reports. Argus set a $295.00 price objective on General Dynamics in a research note on Tuesday, May 6th. UBS Group lifted their price target on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Citigroup dropped 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. Susquehanna lifted their price target on General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research report on Wednesday, April 2nd. Finally, TD Securities lifted their price target on General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, General Dynamics currently has a consensus rating of "Hold" and a consensus price target of $290.24.

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.