Commerce Bank Sells 5,128 Shares of General Dynamics Co. (NYSE:GD)

Commerce Bank decreased its stake in General Dynamics Co. (NYSE:GD) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,702 shares of the aerospace company’s stock after selling 5,128 shares during the period. Commerce Bank’s holdings in General Dynamics were worth $17,061,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. lifted its stake in General Dynamics by 14.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 71,396 shares of the aerospace company’s stock valued at $18,539,000 after purchasing an additional 8,981 shares during the last quarter. BlackDiamond Wealth Management LLC lifted its stake in General Dynamics by 8.7% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 2,451 shares of the aerospace company’s stock valued at $651,000 after purchasing an additional 196 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in General Dynamics by 18.1% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,370 shares of the aerospace company’s stock valued at $356,000 after purchasing an additional 210 shares during the last quarter. Union Savings Bank lifted its stake in General Dynamics by 40.5% in the 4th quarter. Union Savings Bank now owns 434 shares of the aerospace company’s stock valued at $113,000 after purchasing an additional 125 shares during the last quarter. Finally, Alpha Family Trust acquired a new stake in General Dynamics during the fourth quarter worth approximately $209,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 1.1 %

Shares of NYSE:GD traded up $3.32 during mid-day trading on Friday, reaching $299.84. 363,389 shares of the company’s stock were exchanged, compared to its average volume of 1,075,721. The firm has a market capitalization of $82.27 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 1.70 and a beta of 0.67. The business’s fifty day moving average price is $288.61 and its 200-day moving average price is $268.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $301.48.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.64 EPS. On average, research analysts predict that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were issued a $1.42 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $5.68 annualized dividend and a yield of 1.89%. General Dynamics’s payout ratio is presently 46.33%.

Analysts Set New Price Targets

Several research analysts have recently commented on GD shares. The Goldman Sachs Group raised their target price on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Barclays lifted their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. lifted their price objective on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. UBS Group lifted their price objective on shares of General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Finally, Sanford C. Bernstein lifted their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $300.63.

Insider Activity at General Dynamics

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the transaction, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the sale, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. Insiders have sold a total of 118,486 shares of company stock worth $34,391,642 over the last quarter. Company insiders own 1.52% of the company’s stock.

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.