General Dynamics Corporation $GD Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE lowered its position in shares of General Dynamics Corporation (NYSE:GD) by 48.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,214 shares of the aerospace company’s stock after selling 4,846 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in General Dynamics were worth $1,790,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of GD. AQR Capital Management LLC lifted its holdings in General Dynamics by 118.3% in the third quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock valued at $567,372,000 after acquiring an additional 901,679 shares during the period. Northern Trust Corp lifted its holdings in shares of General Dynamics by 35.0% in the third quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock valued at $1,136,525,000 after purchasing an additional 863,392 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in General Dynamics by 831.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock valued at $251,405,000 after buying an additional 658,081 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of General Dynamics by 6,680.8% during the fourth quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock valued at $199,130,000 after acquiring an additional 582,765 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of General Dynamics by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after purchasing an additional 528,769 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Up 2.5%

Shares of NYSE:GD opened at $363.11 on Thursday. The stock has a market capitalization of $98.20 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.19 and a beta of 0.34. General Dynamics Corporation has a 1-year low of $290.30 and a 1-year high of $369.70. The company’s fifty day moving average is $342.97 and its two-hundred day moving average is $347.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. During the same period in the previous year, the business posted $3.66 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts anticipate that General Dynamics Corporation will post 16.63 EPS for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be paid a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio (DPR) is presently 40.03%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GD. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $385.00 price objective on shares of General Dynamics in a research report on Thursday, April 30th. DA Davidson reduced their target price on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Wells Fargo & Company started coverage on General Dynamics in a report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price target for the company. BNP Paribas Exane decreased their price objective on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $388.40.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the transaction, the director directly owned 10,643 shares in the company, valued at approximately $3,884,695. The trade was a 33.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,190 shares of company stock valued at $27,041,022 over the last three months. 1.40% of the stock is currently owned by company insiders.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.