Marks Group Wealth Management Inc Sells 3,945 Shares of General Dynamics Corporation $GD

Marks Group Wealth Management Inc reduced its stake in General Dynamics Corporation (NYSE:GDFree Report) by 13.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,304 shares of the aerospace company’s stock after selling 3,945 shares during the quarter. General Dynamics accounts for 0.8% of Marks Group Wealth Management Inc’s portfolio, making the stock its 29th largest position. Marks Group Wealth Management Inc’s holdings in General Dynamics were worth $8,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in General Dynamics by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock valued at $8,338,169,000 after acquiring an additional 528,769 shares in the last quarter. Geode Capital Management LLC lifted its position in General Dynamics by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company’s stock valued at $2,039,742,000 after acquiring an additional 195,604 shares in the last quarter. JPMorgan Chase & Co. lifted its position in General Dynamics by 2.2% in the 4th quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company’s stock valued at $1,786,786,000 after acquiring an additional 114,647 shares in the last quarter. Ameriprise Financial Inc. lifted its position in General Dynamics by 5.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,627,155 shares of the aerospace company’s stock valued at $1,236,900,000 after acquiring an additional 187,435 shares in the last quarter. Finally, Northern Trust Corp lifted its position in General Dynamics by 35.0% in the 3rd quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock valued at $1,136,525,000 after acquiring an additional 863,392 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Down 1.6%

Shares of GD stock opened at $340.85 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 1 year low of $268.10 and a 1 year high of $369.70. The firm’s fifty day moving average price is $339.81 and its two-hundred day moving average price is $346.33. The firm has a market capitalization of $92.18 billion, a P/E ratio of 21.45, a PEG ratio of 2.15 and a beta of 0.34.

General Dynamics (NYSE:GDGet Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same period in the previous year, the business earned $3.66 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. On average, equities analysts predict that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be given a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio (DPR) is 40.03%.

Insider Activity

In other news, EVP Marguerite Amy Gilliland sold 3,819 shares of General Dynamics stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total value of $1,350,016.50. Following the completion of the transaction, the executive vice president owned 44,767 shares of the company’s stock, valued at $15,825,134.50. This trade represents a 7.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 119,600 shares of company stock valued at $41,650,580 in the last quarter. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GD shares. Jefferies Financial Group cut their price objective on shares of General Dynamics from $385.00 to $380.00 and set a “hold” rating on the stock in a research report on Tuesday, April 7th. Wells Fargo & Company started coverage on shares of General Dynamics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective on the stock. Morgan Stanley lifted their price target on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings lowered shares of General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 19th. Finally, Argus lifted their price target on shares of General Dynamics from $380.00 to $395.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and an average target price of $387.40.

View Our Latest Research Report on General Dynamics

General Dynamics Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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