General Dynamics Corporation $GD Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of General Dynamics Corporation (NYSE:GD) by 18.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,235,954 shares of the aerospace company’s stock after selling 287,549 shares during the period. Bank of New York Mellon Corp’s holdings in General Dynamics were worth $416,096,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GD. Dunhill Financial LLC lifted its holdings in shares of General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new position in shares of General Dynamics during the 3rd quarter valued at $25,000. Dagco Inc. acquired a new position in shares of General Dynamics during the 4th quarter valued at $25,000. Burkett Financial Services LLC lifted its holdings in shares of General Dynamics by 650.0% during the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. Finally, Steph & Co. lifted its holdings in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

GD opened at $341.93 on Friday. The company has a 50-day moving average of $340.22 and a 200-day moving average of $346.30. The company has a market capitalization of $92.47 billion, a P/E ratio of 21.52, a PEG ratio of 2.09 and a beta of 0.34. General Dynamics Corporation has a 1-year low of $268.10 and a 1-year high of $369.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.66 EPS. Equities analysts expect that General Dynamics Corporation will post 16.62 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 7th. Stockholders of record on Thursday, July 2nd will be given a $1.59 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. General Dynamics’s payout ratio is presently 40.03%.

Insider Transactions at General Dynamics

In other news, EVP Marguerite Amy Gilliland sold 3,819 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 44,767 shares of the company’s stock, valued at approximately $15,825,134.50. The trade was a 7.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was 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 of the company’s stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 119,600 shares of company stock valued at $41,650,580. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GD shares. Argus lifted 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. Weiss Ratings downgraded shares of General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. DA Davidson reduced their price target on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Finally, BNP Paribas Exane reduced their price target on General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus 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.