General Dynamics Co. (NYSE:GD) Shares Acquired by Advisory Services Network LLC

Advisory Services Network LLC grew its holdings in General Dynamics Co. (NYSE:GD) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,231 shares of the aerospace company’s stock after purchasing an additional 1,475 shares during the quarter. Advisory Services Network LLC’s holdings in General Dynamics were worth $7,128,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. MeadowBrook Investment Advisors LLC acquired a new stake in General Dynamics during the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new stake in General Dynamics during the fourth quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics during the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in General Dynamics during the first quarter worth approximately $29,000. Finally, Legend Financial Advisors Inc. boosted its position in General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction dated 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 directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. 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 in the last ninety days. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Up 0.5 %

GD traded up $1.40 during trading hours on Friday, reaching $285.55. 103,923 shares of the stock traded hands, compared to its average volume of 1,047,163. The firm’s fifty day simple moving average is $293.62 and its two-hundred day simple moving average is $279.64. The company has a market cap of $78.34 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.61 and a beta of 0.60. General Dynamics Co. has a fifty-two week low of $212.58 and a fifty-two week high of $302.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The firm had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.64 earnings per share. As a group, analysts forecast that General Dynamics Co. will post 14.55 earnings per share 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. Shareholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio is currently 46.33%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GD. Wells Fargo & Company raised their target price on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. increased their price target on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Susquehanna increased 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. Citigroup increased their price target on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group increased their price target on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $305.56.

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.