BTC Capital Management Inc. Purchases 2,244 Shares of General Dynamics Corporation $GD

BTC Capital Management Inc. boosted its position in General Dynamics Corporation (NYSE:GD) by 18.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,320 shares of the aerospace company’s stock after buying an additional 2,244 shares during the quarter. BTC Capital Management Inc.’s holdings in General Dynamics were worth $4,915,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC boosted its holdings in General Dynamics by 620.0% during the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp bought a new position in shares of General Dynamics in the third quarter worth about $25,000. Dagco Inc. acquired a new position in shares of General Dynamics during the 4th quarter worth about $25,000. Burkett Financial Services LLC boosted its stake in 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 purchasing an additional 65 shares during the period. Finally, Steph & Co. boosted its stake in 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 period. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction 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 completion of the transaction, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the transaction, the director directly owned 10,643 shares of the company’s stock, valued at $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 78,190 shares of company stock valued at $27,041,022. Corporate insiders own 1.40% of the company’s stock.

General Dynamics Price Performance

Shares of GD stock opened at $344.31 on Thursday. General Dynamics Corporation has a 12 month low of $281.13 and a 12 month high of $369.70. The company has a market capitalization of $93.11 billion, a P/E ratio of 21.67, a P/E/G ratio of 2.17 and a beta of 0.34. The stock has a 50 day moving average of $341.49 and a two-hundred day moving average of $347.46. 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 (NYSE:GD) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.General Dynamics’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.66 earnings per share. As a group, equities analysts expect that General Dynamics Corporation will post 16.63 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s payout ratio is 40.03%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GD. The Goldman Sachs Group dropped their price target on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. Royal Bank Of Canada restated a “sector perform” rating and issued a $385.00 price objective on shares of General Dynamics in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and increased their price target for the company from $380.00 to $400.00 in a report on Thursday, June 11th. Finally, BNP Paribas Exane decreased their price target on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $388.40.

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.