D.A. Davidson & CO. Grows Stock Position in General Dynamics Corporation (NYSE:GD)

D.A. Davidson & CO. raised its holdings in shares of General Dynamics Corporation (NYSE:GD) by 4.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,573 shares of the aerospace company’s stock after acquiring an additional 3,612 shares during the quarter. D.A. Davidson & CO.’s holdings in General Dynamics were worth $21,417,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC increased its stake in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in General Dynamics during the fourth quarter worth $26,000. Inlight Wealth Management LLC purchased a new position in General Dynamics during the first quarter worth $26,000. Copia Wealth Management acquired a new position in shares of General Dynamics in the fourth quarter worth $27,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Dynamics in the first quarter valued at $27,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE GD opened at $293.90 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $316.90. The firm has a market capitalization of $78.88 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.98 and a beta of 0.46. The business’s 50-day simple moving average is $277.88 and its 200-day simple moving average is $267.66.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share 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 firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.92 billion. During the same period in the previous year, the company posted $2.88 earnings per share. General Dynamics’s revenue was up 13.9% compared to the same quarter last year. Equities analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 2.04%. General Dynamics’s dividend payout ratio is currently 41.61%.

Insider Buying and Selling

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 769,607 shares of the company’s stock, valued at $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on GD. Morgan Stanley cut their target price on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Susquehanna lifted their price target on shares of General Dynamics from $300.00 to $315.00 and gave the stock a “positive” rating in a report on Wednesday, April 2nd. Citigroup reduced 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 note on Thursday, April 10th. Cowen restated a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. Finally, TD Cowen boosted their price target on General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $290.24.

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.