Sequoia Financial Advisors LLC Cuts Stake in General Dynamics Co. (NYSE:GD)

Sequoia Financial Advisors LLC reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,619 shares of the aerospace company’s stock after selling 3,597 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in General Dynamics were worth $7,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Legend Financial Advisors Inc. grew its holdings in General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after buying an additional 36 shares in the last quarter. Diversified Trust Co grew its holdings in General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after buying an additional 36 shares in the last quarter. Fulton Bank N.A. grew its holdings in General Dynamics by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after buying an additional 37 shares in the last quarter. Copperwynd Financial LLC grew its holdings in General Dynamics by 3.7% during the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock valued at $274,000 after buying an additional 38 shares in the last quarter. Finally, Woodward Diversified Capital LLC grew its holdings in shares of General Dynamics by 2.3% in the fourth quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 39 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the transaction, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the transaction, the director now directly owns 5,518 shares in the company, valued at $1,589,184. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. Insiders sold 118,486 shares of company stock worth $34,391,642 over the last three months. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their target price for the company from $305.00 to $335.00 in a report on Monday, April 29th. Argus raised their target price on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 29th. Robert W. Baird reissued an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a report on Tuesday. Finally, Royal Bank of Canada cut their target price on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $305.56.

General Dynamics Stock Down 0.6 %

Shares of GD stock traded down $1.77 on Friday, hitting $281.68. The stock had a trading volume of 1,039,502 shares, compared to its average volume of 936,272. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $294.08 and a 200 day moving average price of $278.84. The company has a market cap of $77.28 billion, a PE ratio of 22.98, a P/E/G ratio of 1.62 and a beta of 0.60. General Dynamics Co. has a one year low of $211.94 and a one year high of $302.75.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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). The firm had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.64 earnings per share. Research analysts anticipate that General Dynamics Co. will post 14.56 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 2.02%. General Dynamics’s payout ratio is currently 46.33%.

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.