Wells Fargo & Company MN Sells 115,013 Shares of General Dynamics Co. (NYSE:GD)

Wells Fargo & Company MN decreased its position in shares of General Dynamics Co. (NYSE:GD - Free Report) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,091,831 shares of the aerospace company's stock after selling 115,013 shares during the period. Wells Fargo & Company MN owned 2.22% of General Dynamics worth $1,605,136,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Purus Wealth Management LLC grew its position in General Dynamics by 1.5% in the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company's stock worth $701,000 after buying an additional 39 shares during the last quarter. Armstrong Advisory Group Inc. boosted its stake in shares of General Dynamics by 4.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,051 shares of the aerospace company's stock worth $277,000 after acquiring an additional 40 shares in the last quarter. Austin Wealth Management LLC grew its holdings in shares of General Dynamics by 5.4% in the 4th quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company's stock worth $220,000 after acquiring an additional 42 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of General Dynamics by 35.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company's stock worth $43,000 after purchasing an additional 43 shares during the period. Finally, Stokes Family Office LLC lifted its holdings in shares of General Dynamics by 0.4% during the fourth quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company's stock valued at $2,708,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Remove Ads

Analysts Set New Price Targets

GD has been the topic of several recent analyst reports. TD Cowen cut their price objective on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Susquehanna boosted their price target on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a report on Wednesday, April 2nd. Jefferies Financial Group reaffirmed a "hold" rating and issued a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. William Blair downgraded shares of General Dynamics from an "outperform" rating to a "market perform" rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group lowered their price target on General Dynamics from $245.00 to $241.00 and set a "sell" rating on the stock in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $297.12.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now owns 45,192 shares of the company's stock, valued at $12,297,195.12. This represents a 37.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laura J. Schumacher sold 1,796 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares of the company's stock, valued at $2,857,224. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

General Dynamics Stock Up 3.5 %

Shares of NYSE:GD traded up $8.79 on Wednesday, reaching $263.19. The company had a trading volume of 1,033,158 shares, compared to its average volume of 1,714,583. General Dynamics Co. has a twelve month low of $239.20 and a twelve month 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. The stock has a 50-day moving average price of $258.19 and a 200 day moving average price of $274.44. The stock has a market capitalization of $70.64 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.69 and a beta of 0.43.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. On average, equities analysts expect that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be paid a dividend of $1.50 per share. This is an increase from General Dynamics's previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 annualized dividend and a yield of 2.28%. General Dynamics's dividend payout ratio is presently 43.99%.

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.