Core Wealth Advisors LLC Invests $811,000 in General Dynamics Corporation $GD

Core Wealth Advisors LLC acquired a new position in shares of General Dynamics Corporation (NYSE:GD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,409 shares of the aerospace company’s stock, valued at approximately $811,000. General Dynamics accounts for approximately 0.5% of Core Wealth Advisors LLC’s holdings, making the stock its 27th biggest holding.

Several other large investors also recently modified their holdings of the company. MUFG Securities EMEA plc increased its position in shares of General Dynamics by 4,789.6% during the fourth quarter. MUFG Securities EMEA plc now owns 236,314 shares of the aerospace company’s stock worth $79,557,000 after buying an additional 231,481 shares during the period. Edgemoor Investment Advisors Inc. increased its stake in shares of General Dynamics by 1.1% in the 4th quarter. Edgemoor Investment Advisors Inc. now owns 56,902 shares of the aerospace company’s stock valued at $19,157,000 after acquiring an additional 594 shares in the last quarter. National Pension Service increased its stake in shares of General Dynamics by 25.5% in the 4th quarter. National Pension Service now owns 739,373 shares of the aerospace company’s stock valued at $248,917,000 after acquiring an additional 150,186 shares in the last quarter. Linscomb Wealth Inc. increased its stake in shares of General Dynamics by 1.5% in the 4th quarter. Linscomb Wealth Inc. now owns 14,443 shares of the aerospace company’s stock valued at $4,862,000 after acquiring an additional 209 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of General Dynamics by 11.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 45,827 shares of the aerospace company’s stock valued at $15,428,000 after acquiring an additional 4,890 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

NYSE GD opened at $346.47 on Friday. The company has a fifty day simple moving average of $340.85 and a 200 day simple moving average of $346.56. General Dynamics Corporation has a 12-month low of $268.10 and a 12-month high of $369.70. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The company has a market cap of $93.69 billion, a P/E ratio of 21.80, a PEG ratio of 2.15 and a beta of 0.34.

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

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were issued a dividend of $1.59 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.50. General Dynamics’s payout ratio is presently 40.03%.

Wall Street Analyst Weigh In

GD has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Wall Street Zen lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 23rd. Citigroup lowered their price objective on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. JPMorgan Chase & Co. lifted their price objective on shares of General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company began coverage on shares of General Dynamics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $387.40.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,918 shares of General Dynamics stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the transaction, the chief executive officer directly owned 766,457 shares of the company’s stock, valued at $271,394,759.13. The trade was a 4.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of General Dynamics stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the transaction, the executive vice president directly owned 44,767 shares in the company, valued at $15,825,134.50. This represents a 7.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 119,600 shares of company stock valued at $41,650,580 in the last three months. 1.40% of the stock is currently owned by insiders.

General Dynamics 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.