Kestra Private Wealth Services LLC increased its holdings in shares of General Dynamics Corporation (NYSE:GD – Free Report) by 4.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 57,673 shares of the aerospace company’s stock after purchasing an additional 2,290 shares during the period. Kestra Private Wealth Services LLC’s holdings in General Dynamics were worth $19,795,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of General Dynamics by 16.9% during the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after acquiring an additional 417 shares during the period. Acadian Asset Management LLC raised its stake in General Dynamics by 140.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock valued at $938,000 after acquiring an additional 2,011 shares during the period. Sivia Capital Partners LLC bought a new stake in General Dynamics in the 2nd quarter valued at $240,000. Flow Traders U.S. LLC acquired a new stake in General Dynamics during the 2nd quarter valued at $352,000. Finally, Jump Financial LLC bought a new position in General Dynamics during the second quarter worth $1,284,000. Institutional investors own 86.14% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have commented on GD shares. Citigroup decreased their price objective on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $385.00 target price on shares of General Dynamics in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on shares of General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Morgan Stanley raised their price objective on shares of General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $388.40.
Insider Buying and Selling
In other news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Malcolm sold 5,480 shares of General Dynamics stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 78,190 shares of company stock worth $27,041,022. Company insiders own 1.40% of the company’s stock.
General Dynamics Stock Down 1.7%
GD opened at $344.31 on Thursday. General Dynamics Corporation has a fifty-two week low of $281.13 and a fifty-two week high of $369.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The company has a market capitalization of $93.11 billion, a P/E ratio of 21.67, a P/E/G ratio of 2.17 and a beta of 0.34. The stock has a fifty day moving average of $341.49 and a 200-day moving average of $347.46.
General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 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 business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. During the same period in the prior year, the company posted $3.66 earnings per share. General Dynamics’s revenue was up 10.3% compared to the same quarter last year. On average, equities analysts expect that General Dynamics Corporation will post 16.63 EPS for the current year.
General Dynamics Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be given a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio is presently 40.03%.
General Dynamics Profile
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.
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