Nicholas Hoffman & Company LLC. Has $1.92 Million Stake in General Dynamics Corporation $GD

Nicholas Hoffman & Company LLC. cut its stake in shares of General Dynamics Corporation (NYSE:GD) by 30.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,595 shares of the aerospace company’s stock after selling 2,399 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in General Dynamics were worth $1,920,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. KERR FINANCIAL PLANNING Corp bought a new position in shares of General Dynamics during the third quarter worth about $25,000. Dagco Inc. bought a new stake in General Dynamics in the fourth quarter valued at approximately $25,000. Burkett Financial Services LLC boosted its holdings in General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 65 shares during the last quarter. Steph & Co. lifted its position in shares of General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 30 shares during the period. Finally, Center for Financial Planning Inc. lifted its position in shares of General Dynamics by 220.7% in the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 64 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.6%

General Dynamics stock opened at $374.49 on Wednesday. The company has a market capitalization of $101.27 billion, a PE ratio of 23.57, a PEG ratio of 2.34 and a beta of 0.34. General Dynamics Corporation has a 12-month low of $293.95 and a 12-month high of $380.71. The firm’s fifty day moving average is $347.36 and its 200 day moving average is $348.95. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 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 business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. During the same period last year, the company posted $3.66 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts predict that General Dynamics Corporation will post 16.63 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be paid a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is currently 40.03%.

Insider Transactions at General Dynamics

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GD shares. The Goldman Sachs Group decreased their price objective on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research report on Monday, May 4th. Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $385.00 price objective on shares of General Dynamics in a research report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $389.15.

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.