Bank of New York Mellon Corp Sells 20,497 Shares of General Dynamics Corporation $GD

Bank of New York Mellon Corp reduced its stake in shares of General Dynamics Corporation (NYSE:GD) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,215,457 shares of the aerospace company’s stock after selling 20,497 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.45% of General Dynamics worth $417,169,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GD. KERR FINANCIAL PLANNING Corp acquired a new stake in General Dynamics in the third quarter valued at approximately $25,000. Whipplewood Advisors LLC increased its position in shares of General Dynamics by 1,725.0% during the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Dagco Inc. acquired a new position in shares of General Dynamics during the fourth quarter worth $25,000. 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 purchasing an additional 30 shares during the last quarter. Finally, Motiv8 Investments LLC acquired a new stake in shares of General Dynamics in the 4th quarter worth $31,000. Institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other news, Director Mark Malcolm sold 5,480 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the sale, the director owned 10,643 shares in the company, valued at $3,884,695. This represents a 33.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 78,190 shares of company stock worth $27,041,022 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Citigroup reduced their target price on General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a research report on Monday, May 18th. UBS Group raised General Dynamics from a “neutral” rating to a “buy” rating in a report on Thursday, June 11th. Royal Bank Of Canada restated a “sector perform” rating and set a $385.00 price target on shares of General Dynamics in a research note on Thursday, April 30th. Weiss Ratings raised shares of General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. 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 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $391.15.

General Dynamics Stock Performance

Shares of NYSE GD opened at $368.86 on Friday. The company has a 50 day simple moving average of $352.28 and a two-hundred day simple moving average of $350.36. The stock has a market cap of $99.75 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 2.20 and a beta of 0.34. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 12 month low of $293.95 and a 12 month high of $380.71.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. During the same quarter last year, the company posted $3.66 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. As a group, analysts predict that General Dynamics Corporation will post 16.64 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be issued a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s payout ratio is 40.03%.

General Dynamics Company Profile

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.