Brookstone Capital Management Has $8.90 Million Position in General Dynamics Corporation $GD

Brookstone Capital Management cut its position in General Dynamics Corporation (NYSE:GD) by 6.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 25,946 shares of the aerospace company’s stock after selling 1,925 shares during the period. Brookstone Capital Management’s holdings in General Dynamics were worth $8,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GD. Dunhill Financial LLC lifted its holdings in shares of General Dynamics by 620.0% during the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after buying an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in shares of General Dynamics in the third quarter valued at about $25,000. Dagco Inc. acquired a new position in shares of General Dynamics in the fourth quarter valued at about $25,000. Burkett Financial Services LLC grew its stake in shares of General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 65 shares in the last quarter. Finally, Steph & Co. increased its position 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 period. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Down 1.8%

GD stock opened at $343.54 on Tuesday. General Dynamics Corporation has a 52 week low of $278.23 and a 52 week high of $369.70. The business has a 50-day simple moving average of $341.10 and a 200 day simple moving average of $347.35. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The company has a market cap of $92.90 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.17 and a beta of 0.34.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. During the same period in the prior year, the company posted $3.66 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be given a dividend of $1.59 per share. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. General Dynamics’s dividend payout ratio (DPR) is currently 40.03%.

Insider Activity at General Dynamics

In related news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics 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 transaction, the executive vice president directly owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Malcolm sold 5,480 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the transaction, the director owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This represents a 33.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,190 shares of company stock worth $27,041,022 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on GD shares. JPMorgan Chase & Co. lifted their price objective on shares of General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Wells Fargo & Company initiated coverage on shares of General Dynamics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 target price on the stock. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their target price for the stock from $380.00 to $400.00 in a report on Thursday, June 11th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $385.00 price target on shares of General Dynamics in a research report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $388.40.

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.