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General Dynamics Corporation (NYSE:GD) Position Lowered by Truist Financial Corp

General Dynamics logo with Aerospace background

Truist Financial Corp trimmed its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,086 shares of the aerospace company's stock after selling 13,378 shares during the period. Truist Financial Corp owned approximately 0.11% of General Dynamics worth $77,709,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GD. Renasant Bank lifted its stake in General Dynamics by 46.8% in the fourth quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock valued at $858,000 after buying an additional 1,038 shares during the last quarter. Retirement Guys Formula LLC purchased a new stake in General Dynamics in the 1st quarter valued at $1,692,000. Advisory Resource Group grew its holdings in shares of General Dynamics by 7.1% during the first quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock worth $5,234,000 after buying an additional 1,276 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of General Dynamics by 990.0% in the fourth quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company's stock valued at $17,537,000 after purchasing an additional 60,451 shares during the period. Finally, Independent Advisor Alliance raised its position in General Dynamics by 4.1% during the 4th quarter. Independent Advisor Alliance now owns 24,328 shares of the aerospace company's stock worth $6,410,000 after buying an additional 955 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on GD. Susquehanna lifted their price objective on General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a report on Wednesday, April 2nd. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. TD Cowen raised their target price on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Wells Fargo & Company lowered their price target on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup reduced their price objective on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, General Dynamics currently has an average rating of "Hold" and a consensus price target of $290.24.

Check Out Our Latest Stock Report on GD

Insider Activity

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company's stock.

General Dynamics Trading Up 0.1%

Shares of NYSE:GD traded up $0.15 during trading on Monday, reaching $294.91. The stock had a trading volume of 978,665 shares, compared to its average volume of 1,395,752. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $316.90. The business has a fifty day moving average price of $278.76 and a 200-day moving average price of $268.15. The stock has a market cap of $79.15 billion, a P/E ratio of 20.45, a PEG ratio of 1.98 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 (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.88 EPS. As a group, analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.03%. General Dynamics's dividend payout ratio (DPR) is 41.61%.

General Dynamics Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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