Assetmark Inc. Buys 10,968 Shares of General Dynamics Corporation $GD

Assetmark Inc. lifted its stake in shares of General Dynamics Corporation (NYSE:GD) by 9.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 123,591 shares of the aerospace company’s stock after buying an additional 10,968 shares during the period. Assetmark Inc.’s holdings in General Dynamics were worth $42,419,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GD. KERR FINANCIAL PLANNING Corp purchased a new stake in General Dynamics in the third quarter worth $25,000. Whipplewood Advisors LLC boosted its holdings in shares of General Dynamics by 1,725.0% during the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $25,000 after buying an additional 69 shares in the last quarter. Dagco Inc. purchased a new stake in shares of General Dynamics in the 4th quarter worth about $25,000. Steph & Co. increased its stake in shares of General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 30 shares in the last quarter. Finally, Motiv8 Investments LLC bought a new position in shares of General Dynamics in the 4th quarter worth about $31,000. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. DA Davidson dropped their target price on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their target price on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group dropped their price target on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research note on Monday, May 4th. Two equities research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $391.15.

Insider Activity at General Dynamics

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

General Dynamics Stock Performance

Shares of NYSE GD opened at $368.91 on Friday. The firm’s fifty day moving average is $352.73 and its two-hundred day moving average is $350.49. General Dynamics Corporation has a 52-week low of $293.95 and a 52-week high of $380.71. The company has a market cap of $99.76 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.22 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38.

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

General Dynamics Announces Dividend

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

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.