Centerpoint Advisors LLC Sells 100 Shares of General Dynamics Co. (NYSE:GD)

Centerpoint Advisors LLC lowered its position in shares of General Dynamics Co. (NYSE:GD) by 20.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 380 shares of the aerospace company’s stock after selling 100 shares during the quarter. Centerpoint Advisors LLC’s holdings in General Dynamics were worth $107,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GD. Vanguard Group Inc. lifted its stake in shares of General Dynamics by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock valued at $4,955,023,000 after purchasing an additional 133,061 shares during the period. Wellington Management Group LLP boosted its holdings in General Dynamics by 12.0% during the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after buying an additional 1,755,276 shares during the last quarter. Sanders Capital LLC boosted its holdings in General Dynamics by 3.7% during the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock worth $1,081,488,000 after buying an additional 147,800 shares during the last quarter. Norges Bank acquired a new position in shares of General Dynamics during the 4th quarter worth about $728,284,000. Finally, Northern Trust Corp increased its stake in shares of General Dynamics by 1.1% in the 4th quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock valued at $592,764,000 after acquiring an additional 24,395 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GD. Barclays boosted their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. upped their price objective on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. The Goldman Sachs Group lifted their target price on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Robert W. Baird restated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Citigroup boosted their price objective on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $305.56.

Insider Buying and Selling

In other news, Director Leon Rudy F. De sold 2,570 shares of General Dynamics stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $288.00, for a total transaction of $740,160.00. Following the sale, the director now directly owns 5,518 shares of the company’s stock, valued at $1,589,184. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the transaction, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the sale, the director now owns 5,518 shares in the company, valued at approximately $1,589,184. The disclosure for this sale can be found here. Insiders have sold 118,486 shares of company stock worth $34,391,642 in the last 90 days. Insiders own 1.60% of the company’s stock.

General Dynamics Price Performance

Shares of GD traded down $1.35 during trading hours on Monday, hitting $280.33. 1,222,650 shares of the company were exchanged, compared to its average volume of 1,057,726. The company has a market cap of $76.91 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 1.61 and a beta of 0.60. The firm’s fifty day moving average is $294.08 and its 200 day moving average is $279.22. General Dynamics Co. has a fifty-two week low of $212.58 and a fifty-two week high of $302.75. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

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

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

General Dynamics 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.