General Dynamics Corporation (NYSE:GD) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,704,993 shares of the aerospace company's stock after selling 661,936 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.50% of General Dynamics worth $1,827,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC raised its stake 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 acquiring an additional 62 shares during the period. Inlight Wealth Management LLC bought a new position in General Dynamics during the 1st quarter valued at about $26,000. Smallwood Wealth Investment Management LLC bought a new position in General Dynamics during the 1st quarter valued at about $27,000. Copia Wealth Management bought a new stake in General Dynamics in the fourth quarter worth about $27,000. Finally, Hoey Investments Inc. purchased a new position in shares of General Dynamics during the fourth quarter valued at approximately $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GD has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and increased their price target for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. Wells Fargo & Company decreased their target price on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Susquehanna boosted their target price on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research note on Wednesday, April 2nd. Citigroup raised their price target on shares of General Dynamics from $330.00 to $348.00 and gave the stock a "buy" rating in a research note on Monday. Finally, UBS Group boosted their price objective on shares of General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, General Dynamics currently has an average rating of "Hold" and an average price target of $295.53.

Insider Buying and Selling

In other news, CEO Phebe N. Novakovic sold 7,639 shares of the business's 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 owned 769,607 shares in the company, valued at approximately $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.50% of the company's stock.

General Dynamics Stock Up 1.0%

Shares of NYSE:GD traded up $2.92 during trading on Monday, reaching $305.12. The stock had a trading volume of 1,147,062 shares, compared to its average volume of 1,501,107. The firm's 50-day simple moving average is $281.48 and its 200 day simple moving average is $269.33. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. 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 $81.89 billion, a P/E ratio of 21.16, a PEG ratio of 2.01 and a beta of 0.46.

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 company 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%. General Dynamics's revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm earned $2.88 earnings per share. As a group, research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio is currently 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.