Chevy Chase Trust Holdings LLC Decreases Stock Holdings in General Dynamics Co. (NYSE:GD)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,098 shares of the aerospace company’s stock after selling 730 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in General Dynamics were worth $35,904,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Central Pacific Bank Trust Division purchased a new stake in shares of General Dynamics during the first quarter valued at approximately $410,000. Whittier Trust Co. of Nevada Inc. boosted its stake in General Dynamics by 42.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 809 shares of the aerospace company’s stock valued at $229,000 after buying an additional 240 shares during the period. Whittier Trust Co. boosted its stake in General Dynamics by 2.0% during the first quarter. Whittier Trust Co. now owns 10,763 shares of the aerospace company’s stock valued at $3,040,000 after buying an additional 210 shares during the period. Mutual Advisors LLC boosted its stake in General Dynamics by 19.4% during the first quarter. Mutual Advisors LLC now owns 8,908 shares of the aerospace company’s stock valued at $2,516,000 after buying an additional 1,447 shares during the period. Finally, Shoker Investment Counsel Inc. boosted its stake in General Dynamics by 2.4% during the first quarter. Shoker Investment Counsel Inc. now owns 8,024 shares of the aerospace company’s stock valued at $2,340,000 after buying an additional 191 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Up 0.6 %

GD stock traded up $1.61 during midday trading on Wednesday, hitting $281.12. The company’s stock had a trading volume of 406,708 shares, compared to its average volume of 1,051,010. The company has a market cap of $77.13 billion, a PE ratio of 22.95, a P/E/G ratio of 1.60 and a beta of 0.60. General Dynamics Co. has a 12 month low of $212.58 and a 12 month high of $302.75. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average is $293.78 and its 200-day moving average is $279.60.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $2.64 earnings per share. On average, equities research analysts forecast that General Dynamics Co. will post 14.56 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 2.02%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insiders Place Their Bets

In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares in the company, valued at approximately $29,816,065.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the transaction, the vice president now owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,486 shares of company stock worth $34,391,642. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GD. Susquehanna lifted their price objective on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Sanford C. Bernstein lifted their price objective on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. Finally, The Goldman Sachs Group lifted their price target on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.56.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.