Dynamic Advisor Solutions LLC grew its position in General Dynamics Co. (NYSE:GD) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,932 shares of the aerospace company’s stock after acquiring an additional 105 shares during the period. Dynamic Advisor Solutions LLC’s holdings in General Dynamics were worth $496,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new stake in shares of General Dynamics during the 4th quarter valued at approximately $25,000. We Are One Seven LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at approximately $27,000. Aspire Private Capital LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at approximately $29,000. CX Institutional bought a new stake in shares of General Dynamics during the 1st quarter valued at approximately $45,000. Finally, Athena Capital Advisors LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at approximately $46,000. 87.25% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on GD shares. Jefferies Financial Group lowered shares of General Dynamics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $197.00 to $164.00 in a report on Tuesday, January 8th. FIG Partners upgraded shares of General Dynamics to an “add” rating in a research report on Tuesday, January 8th. Susquehanna Bancshares began coverage on shares of General Dynamics in a research report on Thursday, January 10th. They issued a “neutral” rating and a $175.00 price target on the stock. Citigroup dropped their price target on shares of General Dynamics from $195.00 to $175.00 and set a “neutral” rating on the stock in a research report on Monday, January 14th. Finally, Credit Suisse Group restated a “buy” rating and issued a $190.00 price target on shares of General Dynamics in a research report on Monday, January 14th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $198.43.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The firm had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the company posted $2.65 earnings per share. The business’s revenue was up 22.9% on a year-over-year basis. As a group, equities analysts forecast that General Dynamics Co. will post 11.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a dividend of $1.02 per share. This is an increase from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $4.08 annualized dividend and a yield of 2.31%. General Dynamics’s dividend payout ratio is presently 35.73%.
In other news, VP Christopher J. Brady sold 2,327 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $171.23, for a total value of $398,452.21. Following the completion of the sale, the vice president now owns 5,134 shares in the company, valued at approximately $879,094.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lester L. Lyles sold 4,580 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $172.42, for a total transaction of $789,683.60. Following the transaction, the director now owns 12,314 shares of the company’s stock, valued at approximately $2,123,179.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,017 shares of company stock worth $11,451,055. Corporate insiders own 7.10% of the company’s stock.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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