Brown Miller Wealth Management LLC Raises Stock Holdings in General Dynamics Co. (NYSE:GD)

Brown Miller Wealth Management LLC boosted its position in shares of General Dynamics Co. (NYSE:GD) by 1.7% during the 1st quarter, HoldingsChannel reports. The firm owned 5,603 shares of the aerospace company’s stock after buying an additional 91 shares during the period. Brown Miller Wealth Management LLC’s holdings in General Dynamics were worth $1,582,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in General Dynamics by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock worth $4,955,023,000 after acquiring an additional 133,061 shares during the period. Wellington Management Group LLP raised its stake in shares of General Dynamics by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after buying an additional 1,755,276 shares during the last quarter. Sanders Capital LLC raised its stake in shares of General Dynamics by 3.7% during the 4th quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after buying an additional 147,800 shares during the last quarter. Norges Bank purchased a new position in shares of General Dynamics during the 4th quarter valued at about $728,284,000. Finally, Northern Trust Corp raised its stake in shares of General Dynamics by 1.1% during the 4th quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock valued at $592,764,000 after buying an additional 24,395 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. BTIG Research initiated coverage on General Dynamics in a research note on Wednesday. They set a “buy” rating and a $345.00 price objective for the company. Sanford C. Bernstein boosted their target price on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $305.00 to $335.00 in a report on Monday, April 29th. Finally, Wells Fargo & Company upped their price objective on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.24.

Insider Buying and Selling at General Dynamics

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the sale, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Mark Lagrand Burns sold 12,089 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $296.59, for a total transaction of $3,585,476.51. Following the transaction, the vice president now owns 64,132 shares in the company, valued at approximately $19,020,909.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The disclosure for this sale can be found here. Insiders sold 118,486 shares of company stock valued at $34,391,642 in the last ninety days. Company insiders own 1.52% of the company’s stock.

General Dynamics Stock Down 0.8 %

General Dynamics stock traded down $2.36 during midday trading on Friday, hitting $290.14. 2,259,932 shares of the stock were exchanged, compared to its average volume of 860,268. General Dynamics Co. has a 1 year low of $210.65 and a 1 year high of $302.75. The firm has a market cap of $79.60 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.65 and a beta of 0.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The company has a 50 day moving average price of $294.27 and a two-hundred day moving average price of $277.90.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the previous year, the firm posted $2.64 EPS. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s payout ratio is 46.33%.

General Dynamics Company 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.