Creekmur Asset Management LLC Reduces Position in General Dynamics Co. (NYSE:GD)

Creekmur Asset Management LLC trimmed its stake in General Dynamics Co. (NYSE:GD) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,330 shares of the aerospace company’s stock after selling 92 shares during the period. Creekmur Asset Management LLC’s holdings in General Dynamics were worth $658,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC purchased a new stake in General Dynamics in the 4th quarter worth $25,000. Richardson Financial Services Inc. bought a new stake in General Dynamics during the 4th quarter valued at approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in General Dynamics in the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in General Dynamics in the 1st quarter worth approximately $29,000. Finally, Legend Financial Advisors Inc. grew its holdings in General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after buying an additional 36 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GD. Morgan Stanley upped their target price on shares of General Dynamics from $271.00 to $293.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Susquehanna lifted their target price on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Citigroup increased their price target on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research note on Monday. Finally, Wells Fargo & Company raised their target price on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $312.17.

Insider Transactions at General Dynamics

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other General Dynamics news, VP Mark Lagrand Burns sold 12,089 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $296.59, for a total transaction of $3,585,476.51. Following the transaction, the vice president now owns 64,132 shares of the company’s stock, valued at approximately $19,020,909.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,069 shares of company stock worth $16,295,101. Insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 1.9 %

NYSE:GD traded up $5.67 during mid-day trading on Wednesday, hitting $298.68. 1,609,396 shares of the stock traded hands, compared to its average volume of 1,075,666. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $302.75. The stock has a market capitalization of $82.07 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.66 and a beta of 0.60. The firm’s 50 day moving average is $292.36 and its two-hundred day moving average is $283.25.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the prior year, the company posted $2.70 EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities research analysts predict that General Dynamics Co. will post 14.51 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio is currently 46.33%.

General Dynamics Company Profile

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.