General Dynamics Co. (NYSE:GD) Shares Acquired by Sanders Morris Harris LLC

Sanders Morris Harris LLC increased its position in shares of General Dynamics Co. (NYSE:GDFree Report) by 16.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,500 shares of the aerospace company’s stock after buying an additional 500 shares during the period. Sanders Morris Harris LLC’s holdings in General Dynamics were worth $989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC purchased a new stake in General Dynamics during the 4th quarter worth $25,000. Richardson Financial Services Inc. acquired a new position in General Dynamics during the 4th quarter worth $25,000. Scarborough Advisors LLC acquired a new position in General Dynamics during the 4th quarter worth $33,000. Voisard Asset Management Group Inc. acquired a new position in General Dynamics during the 4th quarter worth $36,000. Finally, Rakuten Securities Inc. acquired a new position in General Dynamics during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

General Dynamics stock traded down $1.38 during midday trading on Friday, reaching $298.25. 1,686,985 shares of the stock traded hands, compared to its average volume of 708,165. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average price of $293.42 and a two-hundred day moving average price of $276.44. The firm has a market cap of $81.83 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.71 and a beta of 0.64. General Dynamics Co. has a fifty-two week low of $209.25 and a fifty-two week high of $302.42.

General Dynamics (NYSE:GDGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter last year, the firm posted $2.64 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts forecast that General Dynamics Co. will post 14.55 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.90%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insiders Place Their Bets

In other General Dynamics news, VP William A. Moss sold 21,050 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $294.85, for a total transaction of $6,206,592.50. Following the sale, the vice president now directly owns 16,624 shares in the company, valued at approximately $4,901,586.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP William A. Moss sold 21,050 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $294.85, for a total value of $6,206,592.50. Following the sale, the vice president now directly owns 16,624 shares in the company, valued at approximately $4,901,586.40. 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 business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the sale, 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. In the last three months, insiders have sold 118,486 shares of company stock worth $34,391,642. 1.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GD has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. The Goldman Sachs Group raised their price objective on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Barclays raised their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Susquehanna lifted their price target on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Finally, Citigroup lifted their price target on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $300.63.

Get Our Latest Research Report on General Dynamics

About General Dynamics

(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.

See Also

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

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