Proficio Capital Partners LLC Trims Position in General Dynamics Corporation (NYSE:GD)

Proficio Capital Partners LLC cut its stake in shares of General Dynamics Corporation (NYSE:GD) by 99.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 856 shares of the aerospace company’s stock after selling 188,658 shares during the period. Proficio Capital Partners LLC’s holdings in General Dynamics were worth $233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock valued at $760,000 after acquiring an additional 417 shares in the last quarter. American Century Companies Inc. grew its position in shares of General Dynamics by 9.5% during the fourth quarter. American Century Companies Inc. now owns 15,316 shares of the aerospace company’s stock worth $4,036,000 after purchasing an additional 1,327 shares in the last quarter. Congress Wealth Management LLC DE grew its position in shares of General Dynamics by 148.6% during the fourth quarter. Congress Wealth Management LLC DE now owns 28,872 shares of the aerospace company’s stock worth $7,607,000 after purchasing an additional 17,257 shares in the last quarter. EntryPoint Capital LLC grew its position in shares of General Dynamics by 10.4% during the fourth quarter. EntryPoint Capital LLC now owns 1,599 shares of the aerospace company’s stock worth $421,000 after purchasing an additional 150 shares in the last quarter. Finally, Modern Wealth Management LLC lifted its position in shares of General Dynamics by 22.4% in the fourth quarter. Modern Wealth Management LLC now owns 2,684 shares of the aerospace company’s stock worth $688,000 after buying an additional 491 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GD shares. Cowen reaffirmed a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. Citigroup reiterated a “buy” rating and issued a $348.00 price target (up from $330.00) on shares of General Dynamics in a report on Monday, July 14th. TD Securities increased their price target on General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. TD Cowen increased their price objective on General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, June 25th. Finally, UBS Group raised their price objective on General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $294.53.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $316.80 on Thursday. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $318.77. The business has a 50-day moving average price of $286.29 and a 200 day moving average price of $271.39. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. The firm has a market cap of $85.03 billion, a PE ratio of 21.97, a P/E/G ratio of 1.98 and a beta of 0.46.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.26 earnings per share. Sell-side analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics’s dividend payout ratio (DPR) is 41.61%.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the company’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

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.