General Dynamics Corporation (NYSE:GD) Shares Sold by Spire Wealth Management

Spire Wealth Management trimmed its position in General Dynamics Corporation (NYSE:GD) by 6.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,464 shares of the aerospace company’s stock after selling 319 shares during the period. Spire Wealth Management’s holdings in General Dynamics were worth $1,217,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. 1858 Wealth Management LLC grew its stake in General Dynamics by 1.2% in the first quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company’s stock worth $879,000 after purchasing an additional 38 shares in the last quarter. Keystone Financial Services grew its stake in General Dynamics by 1.6% in the first quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company’s stock worth $660,000 after purchasing an additional 38 shares in the last quarter. Thrive Wealth Management LLC boosted its stake in General Dynamics by 2.1% in the first quarter. Thrive Wealth Management LLC now owns 2,002 shares of the aerospace company’s stock valued at $546,000 after acquiring an additional 41 shares during the period. Austin Wealth Management LLC boosted its stake in General Dynamics by 5.4% in the fourth quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company’s stock valued at $220,000 after acquiring an additional 42 shares during the period. Finally, SRS Capital Advisors Inc. boosted its stake in General Dynamics by 35.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company’s stock valued at $43,000 after acquiring an additional 43 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the company’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $280.44, for a total value of $2,142,281.16. Following the transaction, the chief executive officer now owns 769,607 shares of the company’s stock, valued at approximately $215,828,587.08. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.

General Dynamics Price Performance

Shares of NYSE:GD opened at $290.83 on Friday. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90. The stock has a market cap of $78.06 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.96 and a beta of 0.46. The stock’s 50 day moving average price is $276.55 and its 200 day moving average price is $267.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping the consensus estimate of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.92 billion. During the same quarter in the previous year, the company earned $2.88 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 2.06%. General Dynamics’s dividend payout ratio is currently 41.61%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. TD Securities lifted their target price on General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. TD Cowen lifted their target price on General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group lifted their target price on General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Wells Fargo & Company decreased their target price on General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup decreased their target price on General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $290.24.

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.