US Asset Management LLC Sells 36 Shares of General Dynamics Co. (NYSE:GD)

US Asset Management LLC reduced its position in shares of General Dynamics Co. (NYSE:GD) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,330 shares of the aerospace company’s stock after selling 36 shares during the quarter. US Asset Management LLC’s holdings in General Dynamics were worth $658,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. MeadowBrook Investment Advisors LLC bought a new position in shares of General Dynamics during the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. bought a new position in shares of General Dynamics during the 4th quarter valued at approximately $25,000. Scarborough Advisors LLC bought a new position in shares of General Dynamics during the 4th quarter valued at approximately $33,000. Voisard Asset Management Group Inc. bought a new position in shares of General Dynamics during the 4th quarter valued at approximately $36,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of General Dynamics during the 4th quarter valued at approximately $38,000. 86.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total transaction of $740,160.00. Following the transaction, the director now owns 5,518 shares of the company’s stock, valued at approximately $1,589,184. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the transaction, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. Insiders have sold 118,486 shares of company stock valued at $34,391,642 in the last quarter. 1.52% of the stock is owned by insiders.

General Dynamics Trading Up 0.5 %

NYSE:GD traded up $1.53 during midday trading on Thursday, hitting $299.53. 751,526 shares of the company traded hands, compared to its average volume of 1,037,808. The firm’s fifty day moving average is $293.21 and its 200-day moving average is $275.94. General Dynamics Co. has a 12-month low of $209.25 and a 12-month high of $302.42. The firm has a market capitalization of $82.18 billion, a P/E ratio of 24.43, a P/E/G ratio of 1.70 and a beta of 0.64. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the previous year, the company posted $2.64 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GD shares. Citigroup upped their price target on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. The Goldman Sachs Group upped their price target on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Royal Bank of Canada dropped their price target on General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and upped their price target for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. Finally, Argus upped their price target on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $300.63.

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.