TBH Global Asset Management LLC Buys 956 Shares of General Dynamics Corporation (NYSE:GD)

TBH Global Asset Management LLC boosted its stake in shares of General Dynamics Corporation (NYSE:GD) by 36.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,583 shares of the aerospace company’s stock after buying an additional 956 shares during the quarter. TBH Global Asset Management LLC’s holdings in General Dynamics were worth $977,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GD. GAMMA Investing LLC lifted its stake in General Dynamics by 34,578.2% in the first quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company’s stock worth $339,253,000 after acquiring an additional 1,241,011 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in General Dynamics in the fourth quarter worth about $279,582,000. Raymond James Financial Inc. purchased a new stake in General Dynamics in the fourth quarter worth about $197,238,000. Vanguard Group Inc. lifted its stake in General Dynamics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock worth $6,265,813,000 after acquiring an additional 706,317 shares during the period. Finally, Capital Research Global Investors lifted its stake in General Dynamics by 7.4% in the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company’s stock worth $1,774,381,000 after acquiring an additional 463,497 shares during the period. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group upped their price objective on shares of General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Cowen reiterated a “buy” rating on shares of General Dynamics in a report on Wednesday. Wells Fargo & Company lowered their price target on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a 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 stock a “buy” rating in a research report on Thursday, April 24th. Finally, TD Cowen boosted their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics has a consensus rating of “Hold” and an average target price of $290.24.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction on Friday, June 13th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.

General Dynamics Trading Down 0.2%

Shares of General Dynamics stock opened at $290.83 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $316.90. The firm has a market capitalization of $78.06 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.96 and a beta of 0.46. The firm’s 50 day simple moving average is $276.55 and its two-hundred day simple moving average is $267.06.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $2.88 EPS. General Dynamics’s revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.06%. General Dynamics’s payout ratio is currently 41.61%.

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.