General Dynamics Co. (NYSE:GD) Shares Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. lifted its position in General Dynamics Co. (NYSE:GD) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,664 shares of the aerospace company’s stock after acquiring an additional 176 shares during the period. Sunbelt Securities Inc.’s holdings in General Dynamics were worth $702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Austin Wealth Management LLC grew its stake in shares of General Dynamics by 5.4% in the 4th quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company’s stock valued at $220,000 after purchasing an additional 42 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in shares of General Dynamics by 35.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company’s stock valued at $43,000 after purchasing an additional 43 shares during the last quarter. Stokes Family Office LLC grew its stake in shares of General Dynamics by 0.4% in the 4th quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company’s stock valued at $2,708,000 after purchasing an additional 43 shares during the last quarter. ICW Investment Advisors LLC grew its stake in shares of General Dynamics by 0.5% in the 4th quarter. ICW Investment Advisors LLC now owns 8,491 shares of the aerospace company’s stock valued at $2,237,000 after purchasing an additional 43 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of General Dynamics by 3.9% in the 4th quarter. Lindbrook Capital LLC now owns 1,178 shares of the aerospace company’s stock valued at $310,000 after purchasing an additional 44 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GD. TD Securities lifted their target price on General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Wells Fargo & Company decreased their price target on General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Citigroup decreased their price target on General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. William Blair downgraded General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Finally, Argus set a $295.00 price target on General Dynamics in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics presently has a consensus rating of “Hold” and a consensus price target of $293.00.

General Dynamics Stock Performance

Shares of GD stock opened at $274.93 on Friday. The stock has a fifty day moving average price of $271.22 and a 200 day moving average price of $268.17. The stock has a market cap of $73.79 billion, a PE ratio of 20.16, a P/E/G ratio of 1.69 and a beta of 0.49. General Dynamics Co. has a 1 year low of $239.20 and a 1 year high of $316.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.92 billion. During the same period in the previous year, the firm posted $2.88 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Sell-side analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 11th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend was Friday, April 11th. General Dynamics’s payout ratio is 41.61%.

Insider Transactions at General Dynamics

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the sale, the senior vice president now owns 45,192 shares of the company’s stock, valued at $12,297,195.12. The trade was a 37.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

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.