Soltis Investment Advisors LLC raised its holdings in General Dynamics Corporation (NYSE:GD – Free Report) by 9.5% during the third quarter, HoldingsChannel.com reports. The fund owned 20,949 shares of the aerospace company’s stock after purchasing an additional 1,813 shares during the period. Soltis Investment Advisors LLC’s holdings in General Dynamics were worth $6,951,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of GD. Caisse de depot et placement du Quebec grew its holdings in shares of General Dynamics by 454.0% during the 2nd quarter. Caisse de depot et placement du Quebec now owns 180,917 shares of the aerospace company’s stock valued at $64,088,000 after purchasing an additional 148,262 shares during the last quarter. Empowered Funds LLC acquired a new position in General Dynamics during the 2nd quarter worth approximately $21,368,000. United Capital Financial Advisors LLC bought a new position in General Dynamics in the 2nd quarter valued at approximately $30,781,000. Professional Advisory Services Inc. lifted its stake in General Dynamics by 4.0% in the 2nd quarter. Professional Advisory Services Inc. now owns 67,028 shares of the aerospace company’s stock valued at $23,744,000 after purchasing an additional 2,562 shares during the last quarter. Finally, FSA Advisors Inc. acquired a new stake in General Dynamics in the second quarter valued at approximately $1,254,000. Institutional investors and hedge funds own 86.14% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on GD. Wells Fargo & Company boosted their target price on shares of General Dynamics from $400.00 to $440.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein dropped their price target on General Dynamics from $407.00 to $365.00 and set a “market perform” rating for the company in a research note on Wednesday, October 14th. UBS Group boosted their price objective on General Dynamics from $395.00 to $408.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 8th. Royal Bank Of Canada reduced their price objective on General Dynamics from $410.00 to $360.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 15th. Finally, Robert W. Baird set a $430.00 target price on General Dynamics in a report on Thursday, July 30th. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $402.44.
View Our Latest Stock Analysis on General Dynamics
General Dynamics Stock Up 4.3%
NYSE:GD opened at $369.66 on Friday. General Dynamics Corporation has a one year low of $306.77 and a one year high of $400.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.44 and a quick ratio of 0.96. The company has a market cap of $100.02 billion, a PE ratio of 21.62, a P/E/G ratio of 2.07 and a beta of 0.33. The firm’s 50 day simple moving average is $351.71 and its 200 day simple moving average is $355.00.
General Dynamics (NYSE:GD – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.28. The firm had revenue of $14.09 billion during the quarter, compared to analysts’ expectations of $13.52 billion. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.74 EPS. On average, research analysts anticipate that General Dynamics Corporation will post 16.99 earnings per share for the current year.
General Dynamics Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, October 9th. General Dynamics’s payout ratio is 38.80%.
Insider Buying and Selling at General Dynamics
In related news, CEO Phebe Novakovic sold 51,568 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $382.58, for a total value of $19,728,885.44. Following the sale, the chief executive officer owned 766,457 shares of the company’s stock, valued at $293,231,119.06. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert K. Steel sold 7,440 shares of the stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total value of $2,574,612.00. Following the completion of the sale, the director owned 3,096 shares of the company’s stock, valued at $1,071,370.80. The trade was a 70.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.40% of the company’s stock.
General Dynamics Profile
General Dynamics Corporation (NYSE: GD) is a global aerospace and defense company that develops, manufactures and supports products and services for government and commercial customers. Its operations serve the U.S. government, allied nations and other customers worldwide, with a significant focus on national security, military modernization and mission support.
The company operates through four primary business areas. Aerospace provides Gulfstream business jets and related aircraft services through Gulfstream Aerospace, as well as aircraft management, charter, maintenance and completions services through Jet Aviation.
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