General Dynamics Co. (NYSE:GD) Stock Position Reduced by First National Bank Sioux Falls

First National Bank Sioux Falls lessened its position in shares of General Dynamics Co. (NYSE:GD) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,405 shares of the aerospace company’s stock after selling 72 shares during the period. First National Bank Sioux Falls’ holdings in General Dynamics were worth $383,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC lifted its holdings in shares of General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in shares of General Dynamics in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Dynamics in the 4th quarter worth approximately $26,000. Copia Wealth Management bought a new stake in shares of General Dynamics in the 4th quarter worth approximately $27,000. Finally, Hoey Investments Inc. bought a new stake in shares of General Dynamics in the 4th quarter worth approximately $28,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

NYSE:GD opened at $277.35 on Tuesday. The business’s 50-day moving average price is $272.72 and its 200 day moving average price is $266.50. The firm has a market cap of $74.44 billion, a P/E ratio of 20.33, a PEG ratio of 1.69 and a beta of 0.46. General Dynamics Co. has a 52-week low of $239.20 and a 52-week high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.92 billion. During the same quarter last year, the business posted $2.88 EPS. General Dynamics’s revenue was up 13.9% on a year-over-year basis. As a group, sell-side analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 2.16%. General Dynamics’s dividend payout ratio (DPR) is currently 41.61%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley cut their price target on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Susquehanna lifted their target price on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research note on Wednesday, April 2nd. Argus set a $295.00 target price on General Dynamics in a research note on Tuesday, May 6th. William Blair downgraded General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Finally, BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $293.00.

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.