Janney Montgomery Scott LLC Has $68.61 Million Holdings in General Dynamics Corporation $GD

Janney Montgomery Scott LLC trimmed its stake in General Dynamics Corporation (NYSE:GD) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,909 shares of the aerospace company’s stock after selling 6,738 shares during the period. Janney Montgomery Scott LLC owned about 0.07% of General Dynamics worth $68,613,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GD. WASHINGTON TRUST Co increased its holdings in General Dynamics by 453.3% in the 3rd quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company’s stock valued at $3,212,000 after buying an additional 7,716 shares during the period. 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 period. Modern Wealth Management LLC boosted its position in shares of General Dynamics by 114.7% during the 3rd quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company’s stock valued at $2,088,000 after acquiring an additional 3,271 shares in the last quarter. Jain Global LLC boosted its position in shares of General Dynamics by 97.8% during the 3rd quarter. Jain Global LLC now owns 169,305 shares of the aerospace company’s stock valued at $57,733,000 after acquiring an additional 83,692 shares in the last quarter. Finally, M&T Bank Corp increased its stake in General Dynamics by 155.6% in the fourth quarter. M&T Bank Corp now owns 104,773 shares of the aerospace company’s stock valued at $35,273,000 after acquiring an additional 63,781 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 38,975 shares of the company’s stock, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of the company’s 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 transaction, the director owned 10,643 shares in the company, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their position. 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 worth $27,041,022. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

GD has been the subject of several recent research reports. Wells Fargo & Company started coverage on shares of General Dynamics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price target for the company. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the company from $380.00 to $400.00 in a research note on Thursday, June 11th. DA Davidson dropped their target price on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft cut their target price on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. upped their price target on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $388.40.

General Dynamics Price Performance

NYSE:GD opened at $346.30 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The firm has a market cap of $93.65 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 2.15 and a beta of 0.34. General Dynamics Corporation has a 12 month low of $288.62 and a 12 month high of $369.70. The company’s 50-day moving average price is $341.71 and its two-hundred day moving average price is $347.58.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $3.66 earnings per share. On average, equities analysts anticipate that General Dynamics Corporation will post 16.63 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be given a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.8%. General Dynamics’s payout ratio is presently 40.03%.

About General Dynamics

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.