General Dynamics Corporation $GD Holdings Cut by Brookstone Capital Management

Brookstone Capital Management decreased its stake in General Dynamics Corporation (NYSE:GD) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,331 shares of the aerospace company’s stock after selling 612 shares during the quarter. Brookstone Capital Management’s holdings in General Dynamics were worth $7,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC purchased a new stake in General Dynamics in the 1st quarter worth approximately $27,000. Quarry LP lifted its position in General Dynamics by 783.3% in the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after buying an additional 94 shares in the last quarter. Abound Financial LLC purchased a new stake in General Dynamics in the 1st quarter worth approximately $32,000. Harbor Asset Planning Inc. acquired a new position in shares of General Dynamics during the 2nd quarter worth $35,000. Finally, Nova Wealth Management Inc. acquired a new position in shares of General Dynamics during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD opened at $338.19 on Thursday. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $347.37. The firm’s fifty day simple moving average is $328.25 and its 200 day simple moving average is $300.41. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $90.97 billion, a PE ratio of 22.70, a PEG ratio of 2.10 and a beta of 0.47.

General Dynamics (NYSE:GD) last posted its 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. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. During the same period last year, the business posted $3.26 EPS. General Dynamics’s revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is presently 40.27%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GD. Cowen restated a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. UBS Group increased their price target on shares of General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Jefferies Financial Group set a $325.00 price target on shares of General Dynamics and gave the stock a “hold” rating in a research note on Wednesday, July 9th. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a research note on Wednesday, October 8th. Finally, Wolfe Research increased their price target on shares of General Dynamics from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of “Hold” and an average price target of $327.44.

Insiders Place Their Bets

In other news, VP William A. Moss sold 17,700 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the transaction, the vice president owned 16,627 shares in the company, valued at approximately $5,260,782.80. The trade was a 51.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 129,090 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $241,325,666.99. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,020 shares of company stock worth $86,414,503 in the last ninety days. 1.50% of the stock is owned by insiders.

About General Dynamics

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.