Edge Wealth Management LLC Decreases Stock Holdings in General Dynamics Co. (NYSE:GD)

Edge Wealth Management LLC cut its stake in General Dynamics Co. (NYSE:GD) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,209 shares of the aerospace company’s stock after selling 412 shares during the period. General Dynamics makes up about 3.2% of Edge Wealth Management LLC’s holdings, making the stock its 11th largest holding. Edge Wealth Management LLC’s holdings in General Dynamics were worth $15,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Operose Advisors LLC purchased a new position in General Dynamics in the third quarter worth approximately $40,000. O Shaughnessy Asset Management LLC grew its holdings in shares of General Dynamics by 83.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 43,485 shares of the aerospace company’s stock worth $9,609,000 after purchasing an additional 19,747 shares during the period. Treasurer of the State of North Carolina increased its position in shares of General Dynamics by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 118,163 shares of the aerospace company’s stock worth $26,110,000 after purchasing an additional 585 shares during the last quarter. Synovus Financial Corp lifted its position in General Dynamics by 2.5% in the third quarter. Synovus Financial Corp now owns 37,755 shares of the aerospace company’s stock valued at $8,347,000 after buying an additional 926 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in General Dynamics by 300.1% during the third quarter. Tower Research Capital LLC TRC now owns 13,207 shares of the aerospace company’s stock worth $2,918,000 after buying an additional 9,906 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Susquehanna upped their price target on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Sanford C. Bernstein lifted their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group upped their price target on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted their target price on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $303.24.

General Dynamics Trading Up 0.3 %

NYSE GD traded up $0.80 during trading hours on Friday, hitting $293.30. 34,460 shares of the company’s stock were exchanged, compared to its average volume of 1,037,276. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. The firm has a market capitalization of $80.47 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 1.68 and a beta of 0.64. The business’s 50 day moving average is $294.10 and its 200-day moving average is $277.37. General Dynamics Co. has a 12-month low of $210.65 and a 12-month high of $302.75.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the previous year, the company earned $2.64 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. As a group, analysts anticipate that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 1.94%. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Transactions at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the transaction, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock worth $34,391,642 in the last ninety days. Insiders own 1.52% of the company’s stock.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.