Steward Partners Investment Advisory LLC Acquires 5,032 Shares of General Dynamics Co. (NYSE:GD)

Steward Partners Investment Advisory LLC lifted its holdings in General Dynamics Co. (NYSE:GDFree Report) by 14.2% in the fourth quarter, Holdings Channel reports. The fund owned 40,503 shares of the aerospace company’s stock after purchasing an additional 5,032 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in General Dynamics were worth $10,517,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in General Dynamics in the fourth quarter worth about $728,284,000. Wellington Management Group LLP lifted its stake in General Dynamics by 12.0% in the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after purchasing an additional 1,755,276 shares during the last quarter. International Assets Investment Management LLC lifted its stake in General Dynamics by 10,763.2% in the fourth quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after purchasing an additional 915,091 shares during the last quarter. FMR LLC lifted its stake in General Dynamics by 13.7% in the third quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after purchasing an additional 275,947 shares during the last quarter. Finally, Boston Partners lifted its stake in General Dynamics by 12.7% in the third quarter. Boston Partners now owns 1,763,878 shares of the aerospace company’s stock worth $392,110,000 after purchasing an additional 198,185 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the subject of several analyst reports. Citigroup raised their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Argus raised their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Barclays lifted their price target on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada decreased their price target on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $300.63.

Check Out Our Latest Stock Report on General Dynamics

General Dynamics Stock Down 0.3 %

GD stock traded down $0.85 during trading on Wednesday, hitting $296.49. 83,639 shares of the company’s stock traded hands, compared to its average volume of 1,067,490. The firm has a market capitalization of $81.34 billion, a P/E ratio of 24.13, a PEG ratio of 1.71 and a beta of 0.67. The business has a fifty day simple moving average of $289.89 and a two-hundred day simple moving average of $270.40. 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 Co. has a 1 year low of $202.35 and a 1 year high of $301.48.

General Dynamics (NYSE:GDGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same period in the previous year, the business earned $2.64 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 12th were issued a $1.42 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, April 11th. General Dynamics’s payout ratio is currently 46.33%.

Insiders Place Their Bets

In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction 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 transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the business’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 sale, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,486 shares of company stock valued at $34,391,642. 1.60% of the stock is currently owned by insiders.

General Dynamics Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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