General Dynamics Co. (NYSE:GD) Shares Bought by Griffin Asset Management Inc.

Griffin Asset Management Inc. raised its stake in shares of General Dynamics Co. (NYSE:GD) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,385 shares of the aerospace company’s stock after acquiring an additional 41 shares during the period. Griffin Asset Management Inc.’s holdings in General Dynamics were worth $1,804,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fulton Bank N.A. lifted its holdings in General Dynamics by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after buying an additional 37 shares in the last quarter. Copperwynd Financial LLC increased its position in shares of General Dynamics by 3.7% during the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 38 shares during the period. Woodward Diversified Capital LLC raised its stake in shares of General Dynamics by 2.3% in the fourth quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock valued at $448,000 after acquiring an additional 39 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in General Dynamics by 16.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 287 shares of the aerospace company’s stock valued at $75,000 after purchasing an additional 40 shares during the period. Finally, Regent Peak Wealth Advisors LLC grew its stake in General Dynamics by 0.4% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock worth $2,812,000 after purchasing an additional 41 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the transaction, the vice president now directly owns 103,345 shares in the company, valued at $29,816,065.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the transaction, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leon Rudy F. De sold 2,570 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the sale, the director now directly owns 5,518 shares of the company’s stock, valued at approximately $1,589,184. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock valued at $34,391,642 over the last three months. 1.52% of the stock is currently owned by company insiders.

General Dynamics Stock Performance

GD stock traded down $2.36 on Friday, hitting $290.14. The company’s stock had a trading volume of 2,259,932 shares, compared to its average volume of 860,268. General Dynamics Co. has a 1 year low of $210.65 and a 1 year high of $302.75. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The stock has a market cap of $79.60 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.67 and a beta of 0.64. The firm has a 50 day moving average of $294.27 and a two-hundred day moving average of $277.73.

General Dynamics (NYSE:GD) last announced its earnings results 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). The business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. General Dynamics’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $2.64 EPS. Equities analysts predict that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared 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. This represents a $5.68 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analysts Set New Price Targets

GD has been the subject of several recent research reports. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday. They issued a “buy” rating and a $345.00 price objective for the company. Susquehanna lifted their price target on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the company from $305.00 to $335.00 in a report on Monday, April 29th. Sanford C. Bernstein boosted their target price on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Finally, The Goldman Sachs Group lifted their price target on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus price target of $303.24.

About General Dynamics

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.