General Dynamics Co. (NYSE:GD) Shares Purchased by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC raised its stake in General Dynamics Co. (NYSE:GD) by 9.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,904 shares of the aerospace company’s stock after purchasing an additional 157 shares during the period. FORVIS Wealth Advisors LLC’s holdings in General Dynamics were worth $538,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Accel Wealth Management increased its position in shares of General Dynamics by 19.4% in the 1st quarter. Accel Wealth Management now owns 1,577 shares of the aerospace company’s stock worth $445,000 after purchasing an additional 256 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of General Dynamics by 20.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 7,798 shares of the aerospace company’s stock worth $2,203,000 after purchasing an additional 1,325 shares during the last quarter. Wealthstar Advisors LLC bought a new stake in shares of General Dynamics in the 1st quarter worth about $207,000. Cornerstone Wealth Management LLC increased its position in shares of General Dynamics by 16.8% in the 1st quarter. Cornerstone Wealth Management LLC now owns 5,393 shares of the aerospace company’s stock worth $1,524,000 after purchasing an additional 777 shares during the last quarter. Finally, Norden Group LLC increased its position in shares of General Dynamics by 1,326.8% in the 1st quarter. Norden Group LLC now owns 87,864 shares of the aerospace company’s stock worth $24,821,000 after purchasing an additional 81,706 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The disclosure for this sale can be found here. In the last three months, insiders sold 118,486 shares of company stock valued at $34,391,642. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GD. Barclays boosted their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Citigroup boosted their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Susquehanna boosted their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. Sanford C. Bernstein boosted their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a research report on Tuesday. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $305.56.

General Dynamics Stock Performance

NYSE GD traded down $0.93 on Thursday, hitting $284.88. The stock had a trading volume of 656,719 shares, compared to its average volume of 976,308. The company’s 50-day moving average is $294.14 and its two-hundred day moving average is $278.60. The stock has a market cap of $78.16 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 1.63 and a beta of 0.60. General Dynamics Co. has a one year low of $211.94 and a one year high of $302.75. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The company had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.64 earnings per share. On average, analysts expect that General Dynamics Co. will post 14.56 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio is currently 46.33%.

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.