Marks Group Wealth Management Inc Lowers Position in General Dynamics Corporation $GD

Marks Group Wealth Management Inc lessened its holdings in shares of General Dynamics Corporation (NYSE:GD) by 19.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,397 shares of the aerospace company’s stock after selling 4,907 shares during the quarter. Marks Group Wealth Management Inc’s holdings in General Dynamics were worth $7,001,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GD. AQR Capital Management LLC lifted its position in General Dynamics by 118.3% during the third quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock valued at $567,372,000 after purchasing an additional 901,679 shares during the last quarter. Northern Trust Corp grew its stake in General Dynamics by 35.0% in the 3rd quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock worth $1,136,525,000 after buying an additional 863,392 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of General Dynamics by 831.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock worth $251,405,000 after buying an additional 658,081 shares during the last quarter. SG Americas Securities LLC raised its position in shares of General Dynamics by 6,680.8% during the 4th quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock valued at $199,130,000 after buying an additional 582,765 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of General Dynamics by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after acquiring an additional 528,769 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Price Performance

GD stock opened at $365.53 on Thursday. The firm has a market cap of $98.85 billion, a P/E ratio of 23.00, a P/E/G ratio of 2.23 and a beta of 0.34. The firm’s fifty day moving average is $351.86 and its 200 day moving average is $350.18. General Dynamics Corporation has a 52 week low of $293.95 and a 52 week high of $380.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. During the same period in the previous year, the firm posted $3.66 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Research analysts predict that General Dynamics Corporation will post 16.64 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be issued a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. General Dynamics’s payout ratio is currently 40.03%.

Insider Transactions at General Dynamics

In related news, Director Mark Malcolm sold 5,480 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director directly owned 10,643 shares in the company, valued at $3,884,695. This represents a 33.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 78,190 shares of company stock valued at $27,041,022. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America upped their target price on shares of General Dynamics from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $385.00 price target on shares of General Dynamics in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. UBS Group upgraded General Dynamics from a “neutral” rating to a “buy” rating in a research report on Thursday, June 11th. Finally, DA Davidson decreased their price objective on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $391.15.

General Dynamics 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.