General Dynamics Corporation (NYSE:GD) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,099 shares of the aerospace company's stock after selling 1,199 shares during the period. QRG Capital Management Inc.'s holdings in General Dynamics were worth $4,933,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Thrive Wealth Management LLC lifted its position in shares of General Dynamics by 2.1% during the first quarter. Thrive Wealth Management LLC now owns 2,002 shares of the aerospace company's stock worth $546,000 after purchasing an additional 41 shares in the last quarter. Austin Wealth Management LLC raised its holdings in General Dynamics by 5.4% in the fourth quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company's stock valued at $220,000 after acquiring an additional 42 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in General Dynamics by 35.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company's stock valued at $43,000 after acquiring an additional 43 shares in the last quarter. Stokes Family Office LLC raised its holdings in General Dynamics by 0.4% in the fourth quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company's stock valued at $2,708,000 after acquiring an additional 43 shares in the last quarter. Finally, ICW Investment Advisors LLC raised its holdings in General Dynamics by 0.5% in the fourth quarter. ICW Investment Advisors LLC now owns 8,491 shares of the aerospace company's stock valued at $2,237,000 after acquiring an additional 43 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the sale, the chief executive officer now directly owns 769,607 shares of the company's stock, valued at approximately $215,828,587.08. This represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

General Dynamics Stock Performance

Shares of GD opened at $281.15 on Wednesday. The firm has a 50-day moving average price of $275.30 and a 200 day moving average price of $266.48. The firm has a market capitalization of $75.46 billion, a PE ratio of 19.50, a P/E/G ratio of 1.88 and a beta of 0.46. 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 Corporation has a 52-week low of $239.20 and a 52-week high of $316.90.

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 analysts' consensus estimates of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. General Dynamics's revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.88 EPS. On average, sell-side analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given 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 2.13%. General Dynamics's dividend payout ratio is presently 41.61%.

Analysts Set New Price Targets

GD has been the topic of several recent analyst reports. William Blair cut shares of General Dynamics from an "outperform" rating to a "market perform" rating in a report on Friday, February 21st. UBS Group upped their price target on shares of General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. TD Securities upped their price target on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Morgan Stanley cut their price target on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company lowered their target price on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $293.00.

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.

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