NewEdge Wealth LLC Raises Stock Holdings in General Dynamics Corporation $GD

NewEdge Wealth LLC increased its position in General Dynamics Corporation (NYSE:GD) by 25.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,039 shares of the aerospace company’s stock after acquiring an additional 2,244 shares during the period. NewEdge Wealth LLC’s holdings in General Dynamics were worth $3,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Brighton Jones LLC raised its stake in General Dynamics by 16.9% in the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after acquiring an additional 417 shares during the last quarter. Acadian Asset Management LLC grew its position in General Dynamics by 140.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock worth $938,000 after purchasing an additional 2,011 shares during the period. Sivia Capital Partners LLC acquired a new stake in General Dynamics during the 2nd quarter worth about $240,000. Flow Traders U.S. LLC acquired a new stake in General Dynamics during the 2nd quarter worth about $352,000. Finally, Jump Financial LLC acquired a new stake in General Dynamics during the 2nd quarter worth about $1,284,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup cut their price target on General Dynamics from $389.00 to $380.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Jefferies Financial Group cut their price target on General Dynamics from $385.00 to $380.00 and set a “hold” rating on the stock in a research report on Tuesday, April 7th. Morgan Stanley increased their price target on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Wolfe Research increased their price target on General Dynamics from $400.00 to $415.00 and gave the stock an “outperform” rating in a research report on Monday, January 12th. Finally, Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $388.20.

Insider Activity at General Dynamics

In related news, EVP Marguerite Amy Gilliland sold 3,819 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total value of $1,350,016.50. Following the transaction, the executive vice president directly owned 44,767 shares of the company’s stock, valued at approximately $15,825,134.50. This trade represents a 7.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 32,918 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the completion of the transaction, the chief executive officer directly owned 766,457 shares in the company, valued at $271,394,759.13. This represents a 4.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 51,260 shares of company stock valued at $18,133,971. 1.40% of the stock is owned by corporate insiders.

General Dynamics Trading Down 0.8%

GD stock opened at $343.90 on Tuesday. The company’s 50-day simple moving average is $345.38 and its 200-day simple moving average is $346.78. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 52-week low of $267.39 and a 52-week high of $369.70. The firm has a market cap of $93.00 billion, a P/E ratio of 21.64, a PEG ratio of 2.15 and a beta of 0.34.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. General Dynamics’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $3.66 EPS. As a group, equities analysts forecast that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were paid a $1.59 dividend. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. General Dynamics’s dividend payout ratio is 40.03%.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.