Evolve Private Wealth LLC Raises Position in General Dynamics Corporation $GD

Evolve Private Wealth LLC raised its position in shares of General Dynamics Corporation (NYSE:GD) by 37.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,877 shares of the aerospace company’s stock after acquiring an additional 2,149 shares during the quarter. Evolve Private Wealth LLC’s holdings in General Dynamics were worth $2,703,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GD. Dunhill Financial LLC lifted its stake in shares of General Dynamics by 620.0% in the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new stake in General Dynamics in the third quarter worth $25,000. Dagco Inc. purchased a new stake in General Dynamics in the fourth quarter worth $25,000. Burkett Financial Services LLC raised its holdings in General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 65 shares in the last quarter. Finally, Steph & Co. lifted its position in General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after buying an additional 30 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the transaction, the director owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This represents a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the transaction, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 78,190 shares of company stock worth $27,041,022. Company insiders own 1.40% of the company’s stock.

General Dynamics Stock Down 1.8%

GD opened at $343.54 on Tuesday. The stock has a market capitalization of $92.90 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.17 and a beta of 0.34. The firm has a 50 day moving average price of $341.10 and a 200-day moving average price of $347.35. General Dynamics Corporation has a twelve month low of $278.23 and a twelve month high of $369.70. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. During the same quarter last year, the company posted $3.66 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Equities research analysts forecast that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio is presently 40.03%.

Analyst Ratings Changes

A number of analysts have recently commented on GD shares. Wells Fargo & Company started coverage on shares of General Dynamics in a report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 target price on the stock. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and increased their price target for the stock from $380.00 to $400.00 in a research note on Thursday, June 11th. BNP Paribas Exane dropped their price objective on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. The Goldman Sachs Group cut their price objective on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a report on Monday, May 4th. Finally, Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $388.40.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.