Pettyjohn Wood & White Inc. Purchases Shares of 756 General Dynamics Corporation (NYSE:GD)

Pettyjohn Wood & White Inc. purchased a new stake in General Dynamics Corporation (NYSE:GD) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 756 shares of the aerospace company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC grew its holdings in shares of General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares during the last quarter. Inlight Wealth Management LLC acquired a new position in General Dynamics during the 1st quarter worth about $26,000. Smallwood Wealth Investment Management LLC acquired a new position in General Dynamics during the 1st quarter worth about $27,000. Copia Wealth Management acquired a new position in General Dynamics during the 4th quarter worth about $27,000. Finally, Heck Capital Advisors LLC acquired a new position in General Dynamics during the 4th quarter worth about $28,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

NYSE GD opened at $310.45 on Friday. The stock has a market cap of $83.51 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.91 and a beta of 0.48. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $322.50. The business has a 50 day simple moving average of $291.05 and a 200 day simple moving average of $273.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. The company had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.26 EPS. Analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 1.9%. General Dynamics’s dividend payout ratio (DPR) is currently 40.27%.

Insider Buying and Selling at General Dynamics

In other news, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the completion of the sale, the executive vice president owned 39,875 shares of the company’s stock, valued at approximately $12,452,165. This trade represents a 52.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 7,639 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at $215,828,587.08. The trade was a 0.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 268,370 shares of company stock valued at $78,408,011 in the last quarter. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of research reports. Sanford C. Bernstein set a $314.00 target price on shares of General Dynamics and gave the company a “market perform” rating in a research report on Monday, July 14th. UBS Group upped their target price on shares of General Dynamics from $309.00 to $333.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Morgan Stanley cut their price target on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company cut their price target on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, Susquehanna increased their price target on shares of General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, General Dynamics currently has an average rating of “Hold” and a consensus target price of $315.78.

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.