General Dynamics Corporation $GD Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. trimmed its position in General Dynamics Corporation (NYSE:GD) by 20.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,572 shares of the aerospace company’s stock after selling 1,403 shares during the period. General Dynamics makes up about 0.7% of Legacy Capital Group California Inc.’s holdings, making the stock its 20th biggest position. Legacy Capital Group California Inc.’s holdings in General Dynamics were worth $1,913,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GD. Brighton Jones LLC increased its stake in shares of 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 lifted its position in General Dynamics by 140.2% in the first quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock valued at $938,000 after purchasing an additional 2,011 shares during the period. Sivia Capital Partners LLC purchased a new stake in General Dynamics in the 2nd quarter valued at approximately $240,000. Flow Traders U.S. LLC purchased a new stake in General Dynamics in the 2nd quarter valued at approximately $352,000. Finally, Jump Financial LLC acquired a new position in General Dynamics during the 2nd quarter worth approximately $1,284,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of a number of analyst reports. Bank of America lifted their price target on General Dynamics from $400.00 to $415.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Jefferies Financial Group increased their price objective on General Dynamics from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating in a research 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 report on Thursday, April 30th. Finally, Wells Fargo & Company began coverage on shares of General Dynamics in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $391.15.

Insider Buying and Selling

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the sale, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the transaction, the director directly owned 10,643 shares of the company’s stock, valued at $3,884,695. The trade was a 33.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 78,190 shares of company stock valued at $27,041,022. Corporate insiders own 1.40% of the company’s stock.

General Dynamics Trading Down 0.6%

Shares of GD stock opened at $372.96 on Tuesday. The stock has a market cap of $100.86 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.26 and a beta of 0.34. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a fifty-two week low of $293.95 and a fifty-two week high of $380.71. The business has a fifty day simple moving average of $351.09 and a 200-day simple moving average of $349.87.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same period in the previous year, the firm earned $3.66 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts forecast that General Dynamics Corporation will post 16.64 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be given a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. General Dynamics’s dividend payout ratio is currently 40.03%.

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.