Independent Financial Group LLC purchased a new position in shares of General Dynamics Corporation (NYSE:GD – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,452 shares of the aerospace company’s stock, valued at approximately $2,214,000.
Other institutional investors have also made changes to their positions in the company. Joule Financial LLC lifted its position in General Dynamics by 4.3% during the 4th quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock worth $237,000 after buying an additional 29 shares in the last quarter. Brown Miller Wealth Management LLC boosted its stake in shares of General Dynamics by 0.3% during the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock worth $2,993,000 after buying an additional 29 shares during the last quarter. Steph & Co. grew its holdings in shares of General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 30 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of General Dynamics by 3.3% in the fourth quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock valued at $329,000 after acquiring an additional 31 shares during the last quarter. Finally, New Wave Wealth Advisors LLC raised its holdings in General Dynamics by 4.4% during the fourth quarter. New Wave Wealth Advisors LLC now owns 733 shares of the aerospace company’s stock worth $247,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.
General Dynamics Trading Up 0.0%
General Dynamics stock opened at $368.91 on Friday. The stock has a 50-day simple moving average of $352.73 and a 200 day simple moving average of $350.49. The stock has a market capitalization of $99.76 billion, a P/E ratio of 23.22, a PEG ratio of 2.22 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. General Dynamics Corporation has a 52 week low of $293.95 and a 52 week high of $380.71.
General Dynamics Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio is 40.03%.
Analyst Ratings Changes
Several research analysts recently commented on GD shares. Wells Fargo & Company started coverage on General Dynamics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price target for the company. UBS Group upgraded General Dynamics from a “neutral” rating to a “buy” rating in a research note on Thursday, June 11th. Weiss Ratings raised General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Bank of America raised their target price on shares of General Dynamics from $400.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, Morgan Stanley boosted their target price on shares of General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average price target of $391.15.
Check Out Our Latest Research Report on General Dynamics
Insider Buying and Selling at General Dynamics
In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of General Dynamics stock in a transaction 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 transaction, the director directly owned 10,643 shares of the company’s stock, valued at $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,190 shares of company stock valued at $27,041,022 in the last ninety days. Insiders own 1.40% of the company’s stock.
About General Dynamics
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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