General Dynamics Corporation (NYSE:GD) Shares Bought by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC raised its holdings in General Dynamics Corporation (NYSE:GD) by 33.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,875 shares of the aerospace company’s stock after acquiring an additional 469 shares during the period. Aaron Wealth Advisors LLC’s holdings in General Dynamics were worth $511,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. NovaPoint Capital LLC raised its holdings in General Dynamics by 1.5% in the 1st quarter. NovaPoint Capital LLC now owns 14,044 shares of the aerospace company’s stock valued at $3,828,000 after acquiring an additional 212 shares during the last quarter. Meadow Creek Wealth Advisors LLC acquired a new position in General Dynamics in the first quarter valued at $218,000. Sippican Capital Advisors boosted its holdings in General Dynamics by 8.8% in the first quarter. Sippican Capital Advisors now owns 2,979 shares of the aerospace company’s stock valued at $812,000 after acquiring an additional 242 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in General Dynamics by 1.6% in the first quarter. DAVENPORT & Co LLC now owns 33,399 shares of the aerospace company’s stock valued at $9,100,000 after acquiring an additional 516 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in General Dynamics by 7.0% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,047 shares of the aerospace company’s stock worth $7,918,000 after purchasing an additional 1,904 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the sale, the chief executive officer owned 769,607 shares in the company, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GD. Argus set a $295.00 price objective on shares of General Dynamics in a research report on Tuesday, May 6th. TD Securities boosted their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Wells Fargo & Company lowered 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. TD Cowen increased 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, June 25th. Finally, Morgan Stanley lowered their target price on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $290.24.

General Dynamics Stock Performance

Shares of GD stock opened at $293.90 on Thursday. The stock has a market capitalization of $78.88 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.98 and a beta of 0.46. General Dynamics Corporation has a one year low of $239.20 and a one year high of $316.90. The company’s 50-day simple moving average is $277.88 and its 200-day simple moving average is $267.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34.

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

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 2.04%. General Dynamics’s dividend payout ratio (DPR) is 41.61%.

About General Dynamics

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.