Transform Wealth LLC Cuts Stake in General Dynamics Co. (NYSE:GD)

Transform Wealth LLC cut its stake in General Dynamics Co. (NYSE:GD) by 6.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 788 shares of the aerospace company’s stock after selling 51 shares during the period. Transform Wealth LLC’s holdings in General Dynamics were worth $229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GD. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the 1st quarter worth $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in General Dynamics in the fourth quarter valued at $25,000. Richardson Financial Services Inc. acquired a new position in General Dynamics in the fourth quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics during the 1st quarter worth $29,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics in the 1st quarter worth $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GD has been the subject of several research analyst reports. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Citigroup upped their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $293.00 to $345.00 in a research note on Friday. Sanford C. Bernstein upped their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Finally, Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $305.00 to $335.00 in a report on Monday, April 29th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Price Performance

Shares of GD opened at $291.20 on Tuesday. The firm has a market cap of $79.89 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.68 and a beta of 0.60. The stock has a 50 day moving average of $291.12 and a 200-day moving average of $285.50. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52 week low of $214.53 and a 52 week high of $302.75.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.70 EPS. As a group, analysts forecast that General Dynamics Co. will post 14.5 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.95%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Buying and Selling

In other General Dynamics news, VP Mark Lagrand Burns sold 12,089 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $296.59, for a total value of $3,585,476.51. Following the transaction, the vice president now owns 64,132 shares in the company, valued at $19,020,909.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was 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 owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark Lagrand Burns sold 12,089 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $296.59, for a total value of $3,585,476.51. Following the completion of the sale, the vice president now directly owns 64,132 shares in the company, valued at approximately $19,020,909.88. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

General Dynamics Company Profile

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.