Veracity Capital LLC Sells 1,172 Shares of General Dynamics Co. (NYSE:GD)

Veracity Capital LLC lowered its holdings in shares of General Dynamics Co. (NYSE:GD - Free Report) by 33.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,338 shares of the aerospace company's stock after selling 1,172 shares during the quarter. Veracity Capital LLC's holdings in General Dynamics were worth $637,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Financial Life Planners bought a new position in General Dynamics during the 4th quarter worth about $25,000. Rialto Wealth Management LLC increased its stake in General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 62 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of General Dynamics in the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at about $26,000. Finally, Copia Wealth Management acquired a new stake in General Dynamics during the fourth quarter valued at $27,000. Institutional investors own 86.14% of the company's stock.

General Dynamics Stock Up 0.7%

NYSE GD traded up $2.01 on Friday, reaching $276.43. The company had a trading volume of 494,286 shares, compared to its average volume of 1,379,787. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The firm has a market capitalization of $74.19 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.69 and a beta of 0.49. General Dynamics Co. has a 1-year low of $239.20 and a 1-year high of $316.90. The company's fifty day moving average is $272.64 and its 200-day moving average is $266.74.

General Dynamics (NYSE:GD - Get Free Report) last released 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. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter in the previous year, the business earned $2.88 earnings per share. General Dynamics's quarterly revenue was up 13.9% on a year-over-year basis. On average, research analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current fiscal 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 given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, July 3rd. General Dynamics's payout ratio is 41.61%.

Insider Transactions at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares of the company's stock, valued at $12,297,195.12. The trade was a 37.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GD shares. TD Securities raised their price target on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Citigroup dropped their target price on General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. UBS Group increased their target price 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. Morgan Stanley reduced their price objective on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, Susquehanna raised their price target on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $293.00.

General Dynamics Company Profile

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.