United Bank Buys 918 Shares of General Dynamics Corporation (NYSE:GD)

United Bank boosted its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 13.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,910 shares of the aerospace company's stock after acquiring an additional 918 shares during the period. United Bank's holdings in General Dynamics were worth $2,156,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock valued at $760,000 after purchasing an additional 417 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of General Dynamics during the 4th quarter worth $33,000. Virtu Financial LLC boosted its stake in shares of General Dynamics by 59.1% during the 4th quarter. Virtu Financial LLC now owns 2,929 shares of the aerospace company's stock worth $772,000 after purchasing an additional 1,088 shares during the period. American Century Companies Inc. raised its holdings in shares of General Dynamics by 9.5% in the 4th quarter. American Century Companies Inc. now owns 15,316 shares of the aerospace company's stock valued at $4,036,000 after purchasing an additional 1,327 shares in the last quarter. Finally, LPL Financial LLC increased its stake in General Dynamics by 0.4% during the 4th quarter. LPL Financial LLC now owns 443,233 shares of the aerospace company's stock valued at $116,788,000 after purchasing an additional 1,689 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Trading Up 0.4%

GD traded up $1.24 during trading on Tuesday, reaching $298.29. The company had a trading volume of 233,429 shares, compared to its average volume of 1,400,440. 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. The stock has a market cap of $80.06 billion, a P/E ratio of 20.68, a PEG ratio of 1.99 and a beta of 0.46. The business has a 50 day simple moving average of $284.47 and a 200-day simple moving average of $270.65.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 17.82% and a net margin of 8.08%. The business's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.88 earnings per share. On average, equities analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.01%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio is 41.61%.

Analyst Ratings Changes

GD has been the topic of a number of recent analyst reports. TD Cowen upped their price target on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Cowen reiterated a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. UBS Group upped 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. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the company a "hold" rating in a research note on Wednesday, July 9th. Finally, Argus set a $295.00 target price on General Dynamics in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $294.53.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the firm'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 completion of the transaction, the chief executive officer directly owned 769,607 shares of the company's stock, valued at approximately $217,898,829.91. This trade represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

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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