General Dynamics Corporation $GD Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC boosted its holdings in General Dynamics Corporation (NYSE:GD) by 3.5% in the first quarter, HoldingsChannel reports. The firm owned 43,760 shares of the aerospace company’s stock after purchasing an additional 1,482 shares during the period. HB Wealth Management LLC’s holdings in General Dynamics were worth $15,020,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp acquired a new position in shares of General Dynamics in the 3rd quarter valued at approximately $25,000. Dagco Inc. acquired a new stake in shares of General Dynamics during the fourth quarter worth approximately $25,000. Burkett Financial Services LLC increased its stake in shares of General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after buying an additional 65 shares during the last quarter. Steph & Co. increased its stake in shares of General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after buying an additional 30 shares during the last quarter. Finally, Motiv8 Investments LLC acquired a new stake in General Dynamics in the fourth quarter valued at $31,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of General Dynamics stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the transaction, the director directly owned 10,643 shares in the company, valued at $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the transaction, the executive vice president directly owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 78,190 shares of company stock worth $27,041,022 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

General Dynamics Stock Down 0.1%

GD stock opened at $373.34 on Friday. The firm has a market cap of $100.96 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.31 and a beta of 0.34. General Dynamics Corporation has a 1-year low of $292.34 and a 1-year high of $373.60. The firm has a fifty day moving average price of $344.97 and a two-hundred day moving average price of $348.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. During the same period last year, the firm posted $3.66 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Research analysts predict that General Dynamics Corporation will post 16.63 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.7%. General Dynamics’s dividend payout ratio is 40.03%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GD shares. Weiss Ratings raised shares of General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. The Goldman Sachs Group reduced their price target on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $385.00 price target on shares of General Dynamics in a research note on Thursday, April 30th. Finally, Citigroup cut their price objective on General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $388.40.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.