General Dynamics Corporation (NYSE:GD) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 37.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,337 shares of the aerospace company's stock after selling 118,083 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of General Dynamics worth $52,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Retirement Guys Formula LLC purchased a new stake in General Dynamics during the 1st quarter valued at $1,692,000. Advisory Resource Group raised its stake in General Dynamics by 7.1% during the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock valued at $5,234,000 after buying an additional 1,276 shares during the last quarter. Mission Wealth Management LP raised its stake in General Dynamics by 18.9% during the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock valued at $4,401,000 after buying an additional 2,568 shares during the last quarter. Virtu Financial LLC grew its position 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 valued at $772,000 after acquiring an additional 1,088 shares during the period. Finally, Matrix Asset Advisors Inc. NY grew its position in shares of General Dynamics by 31.6% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company's stock valued at $9,171,000 after acquiring an additional 8,073 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Down 0.3%

NYSE:GD traded down $0.87 during trading hours on Friday, reaching $299.22. The company's stock had a trading volume of 1,636,205 shares, compared to its average volume of 1,406,219. The company has a market capitalization of $80.31 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 1.99 and a beta of 0.46. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. The stock has a 50 day moving average price of $284.47 and a two-hundred day moving average price of $270.59.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. The business had revenue of $12.22 billion for 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 quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.88 earnings per share. Equities analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company 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 $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's payout ratio is 41.61%.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the company's stock in a transaction 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 sale, the chief executive officer directly owned 769,607 shares of the company's stock, valued at approximately $215,828,587.08. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

GD has been the subject of a number of analyst reports. TD Securities increased their price target on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Susquehanna increased their price target on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company cut their price objective 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. Morgan Stanley reduced their target price on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Cowen reaffirmed a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $294.53.

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.