Elevation Point Wealth Partners LLC boosted its stake in shares of General Dynamics Corporation (NYSE:GD – Free Report) by 59.9% during the first quarter, HoldingsChannel.com reports. The firm owned 14,397 shares of the aerospace company’s stock after acquiring an additional 5,394 shares during the period. Elevation Point Wealth Partners LLC’s holdings in General Dynamics were worth $4,941,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in GD. KERR FINANCIAL PLANNING Corp purchased a new position in shares of General Dynamics in the 3rd quarter worth $25,000. Dagco Inc. purchased a new stake in General Dynamics during the fourth quarter valued at about $25,000. Burkett Financial Services LLC increased its stake in General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 65 shares during the last quarter. Steph & Co. increased its stake in General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 30 shares during the last quarter. Finally, Center for Financial Planning Inc. raised its holdings in shares of General Dynamics by 220.7% in the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 64 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.
General Dynamics Stock Down 0.1%
Shares of General Dynamics stock opened at $373.34 on Friday. The stock has a market capitalization of $100.96 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.31 and a beta of 0.34. General Dynamics Corporation has a twelve month low of $292.34 and a twelve month high of $373.60. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $344.97 and its 200-day simple moving average is $348.35.
General Dynamics Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be issued a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio (DPR) is 40.03%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. BNP Paribas Exane decreased their price objective on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price 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. The Goldman Sachs Group decreased their price target on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research report on Monday, May 4th. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and increased their price target for the company from $380.00 to $400.00 in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $388.40.
Insider Activity
In other General Dynamics 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 value of $12,596,179.20. Following the sale, the executive vice president owned 38,975 shares in the company, 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 link. 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 value of $2,000,200.00. Following the sale, the director directly owned 10,643 shares in the company, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 78,190 shares of company stock worth $27,041,022. 1.40% of the stock is currently owned by insiders.
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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