Sound View Wealth Advisors LLC raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 20,828 shares of the aerospace company’s stock after purchasing an additional 80 shares during the period. General Dynamics accounts for about 1.1% of Sound View Wealth Advisors LLC’s portfolio, making the stock its 25th largest position. Sound View Wealth Advisors LLC’s holdings in General Dynamics were worth $3,526,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Gravity Companies Inc. bought a new stake in shares of General Dynamics in the 4th quarter valued at about $25,000. Harvest Group Wealth Management LLC acquired a new stake in General Dynamics in the 1st quarter worth approximately $28,000. We Are One Seven LLC acquired a new stake in General Dynamics in the 4th quarter worth approximately $27,000. Aspire Private Capital LLC acquired a new stake in General Dynamics in the 4th quarter worth approximately $29,000. Finally, CX Institutional acquired a new stake in General Dynamics in the 1st quarter worth approximately $45,000. 85.68% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently commented on GD. UBS Group lifted their target price on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $196.00 target price for the company in a research note on Tuesday, May 7th. JPMorgan Chase & Co. upgraded shares of General Dynamics from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $188.00 to $200.00 in a research note on Thursday, April 25th. They noted that the move was a valuation call. Cowen reiterated a “buy” rating and issued a $202.00 target price on shares of General Dynamics in a research note on Wednesday, April 24th. Finally, Sanford C. Bernstein lowered their target price on shares of General Dynamics from $186.00 to $178.00 and set a “market perform” rating for the company in a research note on Monday, February 4th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $198.16.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The company had revenue of $9.26 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the firm posted $2.65 EPS. General Dynamics’s revenue for the quarter was up 22.9% compared to the same quarter last year. Analysts expect that General Dynamics Co. will post 11.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 12th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.49%. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Thursday, April 11th. General Dynamics’s payout ratio is 35.73%.
In other news, VP Gary L. Whited sold 14,640 shares of General Dynamics stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the completion of the transaction, the vice president now directly owns 30,462 shares of the company’s stock, valued at approximately $5,037,805.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John Patrick Casey sold 45,470 shares of General Dynamics stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $172.46, for a total transaction of $7,841,756.20. Following the transaction, the executive vice president now directly owns 148,133 shares of the company’s stock, valued at $25,547,017.18. The disclosure for this sale can be found here. 7.10% of the stock is owned by insiders.
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About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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