Chemical Bank lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 7.4% during the 1st quarter, Holdings Channel reports. The firm owned 9,865 shares of the aerospace company’s stock after selling 790 shares during the quarter. Chemical Bank’s holdings in General Dynamics were worth $1,669,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Exeter Financial LLC boosted its position in shares of General Dynamics by 0.9% in the fourth quarter. Exeter Financial LLC now owns 7,105 shares of the aerospace company’s stock valued at $1,117,000 after acquiring an additional 61 shares during the period. Capital Investment Advisory Services LLC boosted its position in shares of General Dynamics by 10.2% in the first quarter. Capital Investment Advisory Services LLC now owns 657 shares of the aerospace company’s stock valued at $111,000 after acquiring an additional 61 shares during the period. Weatherstone Capital Management boosted its position in shares of General Dynamics by 2.9% in the first quarter. Weatherstone Capital Management now owns 2,224 shares of the aerospace company’s stock valued at $376,000 after acquiring an additional 63 shares during the period. Somerset Trust Co boosted its position in shares of General Dynamics by 0.5% in the first quarter. Somerset Trust Co now owns 13,039 shares of the aerospace company’s stock valued at $2,208,000 after acquiring an additional 69 shares during the period. Finally, United Capital Management of KS Inc. boosted its position in shares of General Dynamics by 2.1% in the first quarter. United Capital Management of KS Inc. now owns 3,431 shares of the aerospace company’s stock valued at $620,000 after acquiring an additional 72 shares during the period. Institutional investors own 86.41% of the company’s stock.

In other news, EVP John Patrick Casey sold 45,470 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $172.46, for a total value of $7,841,756.20. Following the completion of the sale, the executive vice president now directly owns 148,133 shares in the company, valued at $25,547,017.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lester L. Lyles sold 4,580 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $172.42, for a total value of $789,683.60. Following the completion of the sale, the director now owns 12,314 shares of the company’s stock, valued at $2,123,179.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,690 shares of company stock valued at $11,052,603. 7.10% of the stock is currently owned by corporate insiders.

Several research analysts recently commented on the company. UBS Group raised their target price on General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $196.00 target price for the company in a research report on Tuesday, May 7th. Cowen reaffirmed a “buy” rating and issued a $202.00 target price on shares of General Dynamics in a research report on Wednesday, April 24th. Sanford C. Bernstein reduced their target price on General Dynamics from $186.00 to $178.00 and set a “market perform” rating for the company in a research report on Monday, February 4th. Finally, JPMorgan Chase & Co. raised General Dynamics from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $188.00 to $200.00 in a research report on Thursday, April 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. General Dynamics currently has a consensus rating of “Hold” and a consensus target price of $198.29.

General Dynamics stock opened at $167.72 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.82. General Dynamics Co. has a 52-week low of $143.87 and a 52-week high of $208.88. The firm has a market cap of $48.53 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 1.61 and a beta of 1.13.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.18. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. The firm had revenue of $9.26 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the company posted $2.65 earnings per share. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. Equities analysts anticipate that General Dynamics Co. will post 11.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 12th were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.43%. General Dynamics’s dividend payout ratio (DPR) is 35.73%.

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General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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