General Dynamics Corporation $GD Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its holdings in General Dynamics Corporation (NYSE:GD) by 0.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,556,696 shares of the aerospace company’s stock after selling 37,449 shares during the quarter. Wells Fargo & Company MN’s holdings in General Dynamics were worth $1,534,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WASHINGTON TRUST Co lifted its holdings in General Dynamics by 453.3% during the third quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company’s stock valued at $3,212,000 after purchasing an additional 7,716 shares in the last quarter. Vanguard Group Inc. lifted its holdings in General Dynamics by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock valued at $8,338,169,000 after purchasing an additional 528,769 shares in the last quarter. Modern Wealth Management LLC lifted its stake in shares of General Dynamics by 114.7% in the third quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company’s stock worth $2,088,000 after buying an additional 3,271 shares in the last quarter. Jain Global LLC lifted its stake in shares of General Dynamics by 97.8% in the third quarter. Jain Global LLC now owns 169,305 shares of the aerospace company’s stock worth $57,733,000 after buying an additional 83,692 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in shares of General Dynamics by 155.6% in the fourth quarter. M&T Bank Corp now owns 104,773 shares of the aerospace company’s stock worth $35,273,000 after buying an additional 63,781 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GD has been the topic of several research reports. Argus raised their price target on shares of General Dynamics from $380.00 to $395.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $385.00 price target on shares of General Dynamics in a research note on Thursday, April 30th. Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday. 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 note on Thursday, April 30th. Finally, Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $388.40.

General Dynamics Price Performance

General Dynamics stock opened at $359.92 on Friday. General Dynamics Corporation has a 12-month low of $275.49 and a 12-month high of $369.70. The stock has a market cap of $97.33 billion, a P/E ratio of 22.65, a PEG ratio of 2.23 and a beta of 0.34. The company has a 50-day moving average price of $340.32 and a 200 day moving average price of $346.59. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. During the same period last year, the business earned $3.66 earnings per share. General Dynamics’s revenue was up 10.3% compared to the same quarter last year. Sell-side analysts anticipate that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Announces Dividend

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

General Dynamics 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.