General Dynamics Corporation (NYSE:GD) Shares Sold by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. lessened its position in General Dynamics Corporation (NYSE:GD - Free Report) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,975 shares of the aerospace company's stock after selling 953 shares during the period. Richard C. Young & CO. LTD.'s holdings in General Dynamics were worth $10,351,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC raised its position in shares of General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after buying an additional 62 shares during the last quarter. Inlight Wealth Management LLC acquired a new position in shares of General Dynamics in the first quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in General Dynamics in the first quarter valued at approximately $27,000. Copia Wealth Management purchased a new stake in General Dynamics in the fourth quarter valued at approximately $27,000. Finally, Hoey Investments Inc. purchased a new stake in General Dynamics in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GD shares. TD Securities boosted their target price 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. Sanford C. Bernstein set a $314.00 target price on shares of General Dynamics and gave the company a "market perform" rating in a report on Monday. 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 report on Tuesday, April 8th. Jefferies Financial Group set a $325.00 target price on shares of General Dynamics and gave the company a "hold" rating in a report on Wednesday, July 9th. Finally, Cowen restated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $294.53.

General Dynamics Stock Down 0.3%

Shares of GD stock traded down $0.87 on Friday, hitting $299.22. The stock had a trading volume of 1,636,205 shares, compared to its average volume of 1,402,718. The firm has a market capitalization of $80.31 billion, a price-to-earnings ratio of 20.75, a P/E/G ratio of 2.00 and a beta of 0.46. The stock's 50 day moving average is $283.92 and its 200-day moving average is $270.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. 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 for the quarter, beating the consensus estimate of $3.43 by $0.23. The business had revenue of $12.22 billion during 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 business's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.88 earnings per share. As a group, research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 2.01%. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction 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 sale, the chief executive officer directly owned 769,607 shares of the company's stock, valued at $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company's stock.

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.