Benjamin Edwards Inc. lowered its stake in shares of General Dynamics Corporation (NYSE:GD – Free Report) by 4.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 33,571 shares of the aerospace company’s stock after selling 1,410 shares during the period. Benjamin Edwards Inc.’s holdings in General Dynamics were worth $11,895,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in GD. Whipplewood Advisors LLC raised its holdings in shares of General Dynamics by 1,725.0% during the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in General Dynamics in the first quarter worth approximately $29,000. Wilkerson Advisory Group LLC grew its position in General Dynamics by 79.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 39 shares during the period. Paladin Partners LLC purchased a new stake in General Dynamics during the 2nd quarter valued at $30,000. Finally, Center for Financial Planning Inc. raised its stake in General Dynamics by 220.7% during the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock valued at $31,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.
General Dynamics Stock Performance
NYSE GD opened at $379.70 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.44 and a debt-to-equity ratio of 0.23. General Dynamics Corporation has a twelve month low of $306.77 and a twelve month high of $400.00. The business has a 50-day moving average price of $376.45 and a 200-day moving average price of $356.74. The firm has a market cap of $102.73 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 2.19 and a beta of 0.32.
General Dynamics Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a $1.59 dividend. The ex-dividend date is Friday, October 9th. This represents a $6.36 annualized dividend and a yield of 1.7%. General Dynamics’s payout ratio is presently 38.80%.
Insider Buying and Selling at General Dynamics
In other news, CEO Phebe N. Novakovic sold 51,568 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the completion of the transaction, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $293,231,119.06. This represents a 6.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of the 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 transaction, the director owned 10,643 shares of the company’s stock, valued at $3,884,695. This trade represents a 33.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 100,228 shares of company stock valued at $38,052,853 in the last 90 days. Insiders own 1.40% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. TD Cowen raised their price target on General Dynamics from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Susquehanna increased their target price on General Dynamics from $420.00 to $455.00 and gave the company a “positive” rating in a report on Thursday, July 30th. Royal Bank Of Canada boosted their price target on General Dynamics from $385.00 to $410.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Bank of America upped their price target on shares of General Dynamics from $400.00 to $415.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Finally, Citigroup raised their price objective on shares of General Dynamics from $364.00 to $404.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $410.89.
Check Out Our Latest Stock Analysis on GD
General Dynamics Company 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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