D.A. Davidson & CO. Sells 1,932 Shares of General Dynamics Corporation $GD

D.A. Davidson & CO. cut its position in shares of General Dynamics Corporation (NYSE:GD) by 2.2% during the 1st quarter, HoldingsChannel reports. The firm owned 84,756 shares of the aerospace company’s stock after selling 1,932 shares during the period. D.A. Davidson & CO.’s holdings in General Dynamics were worth $29,090,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Joule Financial LLC grew its position in shares of General Dynamics by 4.3% in the 4th quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock worth $237,000 after buying an additional 29 shares during the period. Brown Miller Wealth Management LLC lifted its position in General Dynamics by 0.3% during the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock valued at $2,993,000 after acquiring an additional 29 shares during the period. Steph & Co. lifted its position in General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 30 shares during the period. Revolve Wealth Partners LLC boosted its stake in General Dynamics by 3.3% during the fourth quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock worth $329,000 after acquiring an additional 31 shares in the last quarter. Finally, New Wave Wealth Advisors LLC grew its holdings in General Dynamics by 4.4% in the fourth quarter. New Wave Wealth Advisors LLC now owns 733 shares of the aerospace company’s stock worth $247,000 after purchasing an additional 31 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 1.1%

GD opened at $365.53 on Thursday. General Dynamics Corporation has a twelve month low of $293.95 and a twelve month high of $380.71. 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 50 day moving average price of $351.86 and a 200-day moving average price of $350.18. The stock has a market capitalization of $98.85 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 2.23 and a beta of 0.34.

General Dynamics (NYSE:GD) last announced its 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 business had revenue of $13.48 billion during 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%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.66 EPS. Equities research analysts forecast that General Dynamics Corporation will post 16.64 earnings per share for the current year.

General Dynamics Announces Dividend

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

Insider Activity

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This represents a 48.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 10,643 shares in the company, valued at approximately $3,884,695. The trade was a 33.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 78,190 shares of company stock worth $27,041,022 over the last three months. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GD. Royal Bank Of Canada restated a “sector perform” rating and issued a $385.00 price target on shares of General Dynamics in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft dropped their target price on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. UBS Group upgraded General Dynamics from a “neutral” rating to a “buy” rating in a report on Thursday, June 11th. DA Davidson lowered their price target on General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Finally, BNP Paribas Exane dropped their price target on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $391.15.

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.