EP Wealth Advisors LLC lifted its stake in General Dynamics Corporation (NYSE:GD – Free Report) by 21.2% in the second quarter, HoldingsChannel reports. The fund owned 19,229 shares of the aerospace company’s stock after purchasing an additional 3,367 shares during the quarter. EP Wealth Advisors LLC’s holdings in General Dynamics were worth $6,812,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC grew its holdings in General Dynamics by 16.9% during the fourth 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 grew its stake in shares of General Dynamics by 140.2% in the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock worth $938,000 after purchasing an additional 2,011 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of General Dynamics in the 2nd quarter worth approximately $240,000. Flow Traders U.S. LLC acquired a new stake in General Dynamics during the second quarter valued at approximately $352,000. Finally, Jump Financial LLC acquired a new stake in General Dynamics during the second quarter valued at approximately $1,284,000. Institutional investors and hedge funds own 86.14% of the company’s stock.
General Dynamics Stock Down 0.4%
Shares of NYSE:GD opened at $384.50 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 1.44. The company has a market cap of $104.03 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 2.23 and a beta of 0.33. General Dynamics Corporation has a 52 week low of $306.77 and a 52 week high of $400.00. The firm has a 50 day simple moving average of $374.15 and a 200 day simple moving average of $355.82.
General Dynamics Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be given a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 9th. General Dynamics’s dividend payout ratio (DPR) is 38.80%.
Analysts Set New Price Targets
Several research analysts have issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of General Dynamics from $385.00 to $410.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Jefferies Financial Group raised their price objective on General Dynamics from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. The Goldman Sachs Group decreased their target price on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $421.00 target price on shares of General Dynamics in a report on Monday, August 10th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $410.89.
View Our Latest Stock Analysis on GD
Insider Activity
In other news, CEO Phebe N. Novakovic sold 51,568 shares of General Dynamics stock in a transaction 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 transaction, the chief executive officer owned 766,457 shares in the company, valued at approximately $293,231,119.06. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marguerite Amy Gilliland sold 43,180 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $378.04, for a total value of $16,323,767.20. Following the transaction, the executive vice president directly owned 44,767 shares in the company, valued at $16,923,716.68. The trade was a 49.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 100,228 shares of company stock worth $38,052,853. 1.40% of the stock is owned by corporate insiders.
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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