PAX Financial Group LLC Sells 50 Shares of General Dynamics Co. (NYSE:GD)

PAX Financial Group LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 2.4% during the first quarter, Holdings Channel.com reports. The firm owned 2,030 shares of the aerospace company’s stock after selling 50 shares during the period. PAX Financial Group LLC’s holdings in General Dynamics were worth $573,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eudaimonia Partners LLC purchased a new position in shares of General Dynamics in the fourth quarter worth $240,000. Benjamin F. Edwards & Company Inc. grew its holdings in General Dynamics by 188.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 40,830 shares of the aerospace company’s stock worth $10,602,000 after acquiring an additional 26,668 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of General Dynamics by 99.3% in the fourth quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock valued at $7,542,000 after acquiring an additional 14,468 shares during the period. Principal Securities Inc. bought a new position in shares of General Dynamics during the fourth quarter valued at about $1,056,000. Finally, Gladstone Capital Management LLP purchased a new stake in shares of General Dynamics during the fourth quarter worth about $3,869,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 1.1 %

NYSE GD traded up $3.34 during trading hours on Tuesday, reaching $294.55. 1,061,850 shares of the company’s stock traded hands, compared to its average volume of 1,050,170. General Dynamics Co. has a 52-week low of $213.47 and a 52-week high of $302.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The firm has a 50-day simple moving average of $293.11 and a 200 day simple moving average of $281.54. The firm has a market cap of $80.81 billion, a PE ratio of 24.03, a PEG ratio of 1.65 and a beta of 0.60.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the prior year, the business posted $2.64 EPS. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that General Dynamics Co. will post 14.54 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s payout ratio is 46.33%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays boosted their price target on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. The Goldman Sachs Group boosted their target price on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and raised their price target for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. Robert W. Baird reissued an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Susquehanna upped their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $307.94.

Insiders Place Their Bets

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 transaction of $3,978,647.04. Following the sale, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics 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 completion of the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,486 shares of company stock valued at $34,391,642. 1.52% of the stock is currently owned by corporate insiders.

General Dynamics 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.