General Dynamics Co. (NYSE:GD) Shares Sold by Veracity Capital LLC

Veracity Capital LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 25.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,828 shares of the aerospace company’s stock after selling 1,302 shares during the period. Veracity Capital LLC’s holdings in General Dynamics were worth $1,081,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GD. Vanguard Group Inc. increased its stake in General Dynamics by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock worth $4,955,023,000 after buying an additional 133,061 shares during the period. Wellington Management Group LLP increased its position in shares of General Dynamics by 12.0% during the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after acquiring an additional 1,755,276 shares during the last quarter. Sanders Capital LLC increased its position in shares of General Dynamics by 3.7% during the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock worth $1,081,488,000 after acquiring an additional 147,800 shares during the last quarter. Norges Bank purchased a new stake in shares of General Dynamics during the fourth quarter worth about $728,284,000. Finally, Northern Trust Corp increased its position in shares of General Dynamics by 1.1% during the fourth quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock worth $592,764,000 after acquiring an additional 24,395 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GD has been the subject of several research analyst reports. Citigroup boosted their price objective on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada lowered their price objective on General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Susquehanna boosted their price objective on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Barclays boosted their price objective on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company lifted their target price on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $305.56.

General Dynamics Stock Down 0.3 %

General Dynamics stock traded down $0.93 during mid-day trading on Thursday, hitting $284.88. 656,719 shares of the company’s stock were exchanged, compared to its average volume of 976,308. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The stock has a market cap of $78.16 billion, a P/E ratio of 23.24, a P/E/G ratio of 1.63 and a beta of 0.60. General Dynamics Co. has a 1-year low of $211.94 and a 1-year high of $302.75. The stock has a 50 day moving average of $294.14 and a two-hundred day moving average of $278.60.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.64 earnings per share. As a group, analysts anticipate that General Dynamics Co. will post 14.56 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, July 5th. General Dynamics’s payout ratio is presently 46.33%.

Insider Activity at General Dynamics

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Leon Rudy F. De sold 2,570 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,486 shares of company stock worth $34,391,642. Company insiders own 1.60% of the company’s stock.

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.