General Dynamics Corporation (NYSE:GD) Shares Sold by Atlas Legacy Advisors LLC

Atlas Legacy Advisors LLC trimmed its stake in shares of General Dynamics Corporation (NYSE:GD) by 29.0% in the 1st quarter, HoldingsChannel reports. The firm owned 1,482 shares of the aerospace company’s stock after selling 605 shares during the period. Atlas Legacy Advisors LLC’s holdings in General Dynamics were worth $404,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GD. Rialto Wealth Management LLC increased its stake in shares of General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after buying an additional 62 shares during the period. Inlight Wealth Management LLC purchased a new position in General Dynamics in the first quarter worth approximately $26,000. Copia Wealth Management acquired a new position in General Dynamics during the 4th quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Dynamics in the 1st quarter valued at approximately $27,000. Finally, Hoey Investments Inc. acquired a new stake in shares of General Dynamics in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

General Dynamics Trading Down 0.1%

NYSE GD opened at $313.92 on Monday. General Dynamics Corporation has a one year low of $239.20 and a one year high of $322.50. The firm has a market cap of $84.44 billion, a PE ratio of 21.07, a P/E/G ratio of 1.98 and a beta of 0.46. The firm’s fifty day moving average is $287.67 and its two-hundred day moving average is $272.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The firm had revenue of $13.04 billion for the quarter, compared to analysts’ expectations of $12.13 billion. During the same quarter in the previous year, the firm posted $3.26 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The company 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 is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 1.91%. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. UBS Group boosted their target price on shares of General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Argus set a $295.00 target price on General Dynamics in a research report on Tuesday, May 6th. Wolfe Research upgraded General Dynamics from a “peer perform” rating to an “outperform” rating and set a $360.00 target price for the company in a research note on Thursday. Finally, Susquehanna increased their price target on shares of General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $312.17.

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.