Atria Wealth Solutions Inc. Buys 998 Shares of General Dynamics Co. (NYSE:GD)

Atria Wealth Solutions Inc. lifted its stake in General Dynamics Co. (NYSE:GD) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,406 shares of the aerospace company’s stock after purchasing an additional 998 shares during the period. Atria Wealth Solutions Inc.’s holdings in General Dynamics were worth $6,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GD. Pacer Advisors Inc. raised its stake in General Dynamics by 99.3% during the 4th quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock worth $7,542,000 after buying an additional 14,468 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in General Dynamics during the 3rd quarter worth $16,077,000. Moreno Evelyn V raised its stake in General Dynamics by 17.1% during the 3rd quarter. Moreno Evelyn V now owns 27,310 shares of the aerospace company’s stock worth $6,035,000 after buying an additional 3,991 shares during the period. Clough Capital Partners L P acquired a new stake in General Dynamics during the 3rd quarter worth $26,868,000. Finally, Victory Capital Management Inc. raised its stake in General Dynamics by 57.7% during the 3rd quarter. Victory Capital Management Inc. now owns 326,121 shares of the aerospace company’s stock worth $72,063,000 after buying an additional 119,264 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the transaction, the chief executive officer now owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is owned by company insiders.

General Dynamics Stock Performance

General Dynamics stock traded down $0.20 during midday trading on Friday, reaching $284.70. 85,342 shares of the company’s stock were exchanged, compared to its average volume of 1,099,931. General Dynamics Co. has a 52 week low of $202.35 and a 52 week high of $296.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. The firm has a market cap of $78.11 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 1.79 and a beta of 0.68. The stock’s 50-day simple moving average is $280.56 and its 200 day simple moving average is $261.39.

General Dynamics (NYSE:GD) last posted 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). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter in the previous year, the business posted $2.64 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts expect that General Dynamics Co. will post 14.56 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is currently 46.33%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company lifted their price target on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Royal Bank of Canada dropped their price target on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com raised General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Susquehanna lifted their price target on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Finally, Alembic Global Advisors downgraded General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $285.63.

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.