General Dynamics Corporation (NYSE:GD) Shares Sold by LRI Investments LLC

LRI Investments LLC lowered its position in shares of General Dynamics Corporation (NYSE:GD) by 6.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,799 shares of the aerospace company’s stock after selling 272 shares during the period. LRI Investments LLC’s holdings in General Dynamics were worth $1,036,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GD. Brighton Jones LLC raised its stake in shares of General Dynamics by 16.9% during the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock valued at $760,000 after purchasing an additional 417 shares during the period. Balboa Wealth Partners increased its stake in shares of General Dynamics by 13.0% in the fourth quarter. Balboa Wealth Partners now owns 793 shares of the aerospace company’s stock worth $209,000 after buying an additional 91 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of General Dynamics by 11.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 166,288 shares of the aerospace company’s stock worth $43,815,000 after buying an additional 17,345 shares during the last quarter. Impact Capital Partners LLC bought a new stake in shares of General Dynamics in the fourth quarter worth $230,000. Finally, Madison Investment Advisors LLC bought a new stake in shares of General Dynamics in the fourth quarter worth $696,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD opened at $302.20 on Friday. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $316.90. The company has a market cap of $81.11 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. The firm has a fifty day moving average of $281.48 and a 200-day moving average of $269.32.

General Dynamics (NYSE:GD) last posted 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 business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.88 earnings per share. As a group, equities analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently disclosed 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. This represents a $6.00 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics’s payout ratio is currently 41.61%.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the sale, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GD has been the subject of a number of research analyst reports. 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 research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the company from $298.00 to $342.00 in a research note on Tuesday, July 8th. Morgan Stanley lowered 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. TD Cowen boosted their target price on shares of General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Finally, Cowen reiterated a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $294.47.

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.