Global Wealth Management Investment Advisory Inc. Has $4.50 Million Position in General Dynamics Corporation (NYSE:GD)

Global Wealth Management Investment Advisory Inc. boosted its stake in General Dynamics Corporation (NYSE:GD) by 11.5% in the first quarter, Holdings Channel reports. The institutional investor owned 16,522 shares of the aerospace company’s stock after acquiring an additional 1,704 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in General Dynamics were worth $4,504,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of General Dynamics by 35.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 28,103 shares of the aerospace company’s stock valued at $7,660,000 after buying an additional 7,333 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in General Dynamics by 27.9% in the first quarter. IFM Investors Pty Ltd now owns 23,869 shares of the aerospace company’s stock valued at $7,213,000 after acquiring an additional 5,205 shares during the last quarter. Calamos Advisors LLC grew its position in General Dynamics by 1.1% in the first quarter. Calamos Advisors LLC now owns 44,319 shares of the aerospace company’s stock worth $12,080,000 after acquiring an additional 494 shares in the last quarter. Conning Inc. increased its stake in shares of General Dynamics by 3.5% during the 1st quarter. Conning Inc. now owns 137,531 shares of the aerospace company’s stock worth $37,488,000 after purchasing an additional 4,609 shares during the last quarter. Finally, North Capital Inc. bought a new position in shares of General Dynamics during the 1st quarter valued at $117,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 0.0%

GD stock opened at $294.00 on Friday. 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. The company has a market cap of $78.91 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.98 and a beta of 0.46. The business’s 50-day simple moving average is $278.32 and its 200 day simple moving average is $267.85.

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

General Dynamics Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s dividend payout ratio (DPR) is presently 41.61%.

Wall Street Analyst Weigh In

GD has been the subject of a number of recent research reports. Argus set a $295.00 price objective on shares of General Dynamics in a report on Tuesday, May 6th. UBS Group upped their price target on General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Susquehanna raised their price objective on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research note on Wednesday, April 2nd. Citigroup decreased their target price on General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Wells Fargo & Company dropped 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 research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, General Dynamics currently has a consensus rating of “Hold” and an average price target of $290.24.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 178,821 shares of General Dynamics stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the sale, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $217,898,829.91. The trade was a 18.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

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.