General Dynamics Corporation (NYSE:GD) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its position in General Dynamics Corporation (NYSE:GD - Free Report) by 17.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,361 shares of the aerospace company's stock after selling 37,532 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of General Dynamics worth $46,982,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC boosted its position in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after purchasing an additional 62 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth $26,000. Copia Wealth Management purchased a new stake in shares of General Dynamics during the 4th quarter worth $27,000. Finally, Hoey Investments Inc. purchased a new stake in shares of General Dynamics during the 4th quarter worth $28,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GD has been the topic of several research analyst reports. Morgan Stanley decreased their target price on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company cut their price target on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Argus set a $295.00 price target on General Dynamics in a research note on Tuesday, May 6th. Susquehanna lifted 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. Finally, Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $293.00.

Insider Activity

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the completion of the sale, the chief executive officer now owns 769,607 shares of the company's stock, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company's stock.

General Dynamics Price Performance

GD stock traded down $0.07 during trading on Friday, hitting $278.46. The stock had a trading volume of 1,518,679 shares, compared to its average volume of 1,389,593. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $316.90. The company's 50 day moving average price is $275.58 and its two-hundred day moving average price is $266.51. 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 market cap of $74.74 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.88 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last posted 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. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter in the prior year, the company posted $2.88 EPS. The company's quarterly revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio is currently 41.61%.

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.