Golden State Equity Partners Decreases Position in General Dynamics Corporation (NYSE:GD)

Golden State Equity Partners lowered its stake in General Dynamics Corporation (NYSE:GD) by 24.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,438 shares of the aerospace company’s stock after selling 1,449 shares during the period. Golden State Equity Partners’ holdings in General Dynamics were worth $1,210,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. 1858 Wealth Management LLC increased its stake 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 worth $879,000 after purchasing an additional 38 shares during the period. Keystone Financial Services increased its stake in General Dynamics by 1.6% in the 1st quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company’s stock worth $660,000 after purchasing an additional 38 shares during the period. Thrive Wealth Management LLC increased its stake in shares of General Dynamics by 2.1% in the first quarter. Thrive Wealth Management LLC now owns 2,002 shares of the aerospace company’s stock worth $546,000 after buying an additional 41 shares during the period. Austin Wealth Management LLC increased its stake in shares of General Dynamics by 5.4% in the fourth quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company’s stock worth $220,000 after buying an additional 42 shares during the period. Finally, SRS Capital Advisors Inc. increased its stake in shares of General Dynamics by 35.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company’s stock worth $43,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $283.13, for a total value of $50,629,589.73. Following the sale, the chief executive officer now owns 769,607 shares in the company, valued at $217,898,829.91. This represents a 18.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GD has been the topic of a number of analyst reports. Citigroup decreased 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. TD Securities boosted their price target on General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 24th. UBS Group boosted their price target on General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Cowen restated a “buy” rating on shares of General Dynamics in a report on Thursday, April 24th. Finally, Susquehanna boosted their target price on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $293.00.

General Dynamics Price Performance

Shares of GD stock opened at $281.30 on Wednesday. The stock has a market cap of $75.50 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.90 and a beta of 0.46. The business’s fifty day moving average is $275.74 and its 200 day moving average is $266.63. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month 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.

General Dynamics (NYSE:GD) last released its 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. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.88 EPS. Research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s dividend payout ratio (DPR) is presently 41.61%.

General Dynamics 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.