Savant Capital LLC Sells 3,158 Shares of General Dynamics Corporation $GD

Savant Capital LLC cut its stake in General Dynamics Corporation (NYSE:GD) by 31.5% during the fourth quarter, HoldingsChannel reports. The firm owned 6,873 shares of the aerospace company’s stock after selling 3,158 shares during the period. Savant Capital LLC’s holdings in General Dynamics were worth $2,314,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GD. Dunhill Financial LLC grew its holdings in shares of General Dynamics by 620.0% in the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares during the last quarter. KERR FINANCIAL PLANNING Corp purchased a new stake in General Dynamics in the third quarter worth about $25,000. Dagco Inc. purchased a new stake in General Dynamics in the fourth quarter worth about $25,000. Burkett Financial Services LLC lifted its stake in General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 65 shares during the period. Finally, Steph & Co. lifted its stake in General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 30 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $346.47 on Monday. The firm has a market capitalization of $93.69 billion, a P/E ratio of 21.80, a PEG ratio of 2.15 and a beta of 0.34. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $340.85 and a 200 day moving average price of $346.54. General Dynamics Corporation has a 52 week low of $268.10 and a 52 week high of $369.70.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.67 by $0.43. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. General Dynamics’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $3.66 EPS. Sell-side analysts expect that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were given a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, April 10th. This is an increase from General Dynamics’s previous quarterly dividend of $1.50. General Dynamics’s payout ratio is 40.03%.

Insider Activity at General Dynamics

In related news, EVP Marguerite Amy Gilliland sold 3,819 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total value of $1,350,016.50. Following the completion of the transaction, the executive vice president directly owned 44,767 shares of the company’s stock, valued at $15,825,134.50. This trade represents a 7.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Phebe N. Novakovic sold 32,918 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the transaction, the chief executive officer directly owned 766,457 shares of the company’s stock, valued at $271,394,759.13. This represents a 4.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 119,600 shares of company stock valued at $41,650,580 in the last three months. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GD shares. Argus upped their price objective 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. Jefferies Financial Group lowered their price objective on shares of General Dynamics from $385.00 to $380.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. Citigroup lowered their price objective on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company started coverage on shares of General Dynamics in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $387.40.

About General Dynamics

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.