Valmark Advisers Inc. Lowers Holdings in General Dynamics Corporation (NYSE:GD)

Valmark Advisers Inc. decreased its position in General Dynamics Corporation (NYSE:GD) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,154 shares of the aerospace company’s stock after selling 75 shares during the quarter. Valmark Advisers Inc.’s holdings in General Dynamics were worth $1,950,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its holdings in shares of General Dynamics by 0.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 36,866 shares of the aerospace company’s stock valued at $10,049,000 after acquiring an additional 182 shares during the period. Oppenheimer Asset Management Inc. grew its position in General Dynamics by 1.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 124,032 shares of the aerospace company’s stock valued at $33,809,000 after buying an additional 1,175 shares during the last quarter. Continuum Advisory LLC grew its position in General Dynamics by 86.1% in the 1st quarter. Continuum Advisory LLC now owns 629 shares of the aerospace company’s stock valued at $171,000 after buying an additional 291 shares during the last quarter. Jmac Enterprises LLC grew its position in General Dynamics by 110.0% in the 1st quarter. Jmac Enterprises LLC now owns 3,437 shares of the aerospace company’s stock valued at $937,000 after buying an additional 1,800 shares during the last quarter. Finally, 1858 Wealth Management LLC grew its position in General Dynamics by 1.2% in the 1st quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company’s stock valued at $879,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the transaction, the chief executive officer now owns 769,607 shares of the company’s stock, valued at approximately $215,828,587.08. The trade was a 0.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company lowered their price objective on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. TD Securities lifted their price objective on shares of General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Susquehanna lifted their price objective on shares of General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research report on Wednesday, April 2nd. Finally, Cowen restated a “buy” rating on shares of General Dynamics in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $293.00.

General Dynamics Price Performance

General Dynamics stock opened at $282.77 on Tuesday. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $275.66 and its 200 day simple moving average is $266.52. The firm has a market capitalization of $75.90 billion, a PE ratio of 19.61, a P/E/G ratio of 1.88 and a beta of 0.46.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping the consensus estimate of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same period in the previous year, the firm earned $2.88 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 2.12%. General Dynamics’s dividend payout ratio is presently 41.61%.

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.