Brookstone Capital Management Has $7.97 Million Stock Position in General Dynamics Corporation $GD

Brookstone Capital Management reduced its holdings in shares of General Dynamics Corporation (NYSE:GD) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 27,331 shares of the aerospace company’s stock after selling 612 shares during the period. Brookstone Capital Management’s holdings in General Dynamics were worth $7,971,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. 1858 Wealth Management LLC boosted its position in shares of General Dynamics by 1.0% during the 2nd quarter. 1858 Wealth Management LLC now owns 3,256 shares of the aerospace company’s stock valued at $950,000 after acquiring an additional 32 shares in the last quarter. Nicholson Wealth Management Group LLC boosted its position in shares of General Dynamics by 0.5% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 6,582 shares of the aerospace company’s stock valued at $1,920,000 after acquiring an additional 33 shares in the last quarter. Crewe Advisors LLC boosted its position in shares of General Dynamics by 10.9% during the 2nd quarter. Crewe Advisors LLC now owns 347 shares of the aerospace company’s stock valued at $101,000 after acquiring an additional 34 shares in the last quarter. Salvus Wealth Management LLC boosted its position in shares of General Dynamics by 2.9% during the 2nd quarter. Salvus Wealth Management LLC now owns 1,274 shares of the aerospace company’s stock valued at $372,000 after acquiring an additional 36 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in shares of General Dynamics by 0.5% during the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company’s stock valued at $2,161,000 after acquiring an additional 37 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $321.18, for a total value of $2,617,617.00. Following the completion of the transaction, the vice president directly owned 22,818 shares of the company’s stock, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the transaction, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,020 shares of company stock valued at $86,414,503. Insiders own 1.50% of the company’s stock.

General Dynamics Trading Down 0.7%

Shares of NYSE GD opened at $338.19 on Thursday. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $347.37. The company has a market cap of $90.97 billion, a PE ratio of 22.70, a P/E/G ratio of 2.10 and a beta of 0.47. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $328.25 and a two-hundred day moving average of $300.41.

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

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics’s payout ratio is currently 40.27%.

Wall Street Analyst Weigh In

GD has been the topic of several recent research reports. Citigroup lifted their target price on shares of General Dynamics from $348.00 to $368.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. UBS Group lifted their price target on shares of General Dynamics from $309.00 to $333.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Susquehanna lifted their price target on shares of General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Morgan Stanley lifted their price target on shares of General Dynamics from $328.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Finally, The Goldman Sachs Group lifted their price target on shares of General Dynamics from $280.00 to $293.00 and gave the company a “sell” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $327.44.

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.