General Dynamics Corporation (NYSE:GD) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its holdings in shares of General Dynamics Corporation (NYSE:GD) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,399 shares of the aerospace company’s stock after buying an additional 516 shares during the period. DAVENPORT & Co LLC’s holdings in General Dynamics were worth $9,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of General Dynamics by 7.0% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,047 shares of the aerospace company’s stock worth $7,918,000 after buying an additional 1,904 shares during the last quarter. Cidel Asset Management Inc. increased its position in shares of General Dynamics by 7.0% in the 1st quarter. Cidel Asset Management Inc. now owns 2,146 shares of the aerospace company’s stock valued at $585,000 after acquiring an additional 141 shares during the period. RKL Wealth Management LLC raised its stake in General Dynamics by 1.4% in the 1st quarter. RKL Wealth Management LLC now owns 7,512 shares of the aerospace company’s stock worth $2,048,000 after acquiring an additional 103 shares during the last quarter. Vontobel Holding Ltd. lifted its position in General Dynamics by 1.1% during the 1st quarter. Vontobel Holding Ltd. now owns 22,742 shares of the aerospace company’s stock worth $6,199,000 after acquiring an additional 254 shares during the period. Finally, Astoria Portfolio Advisors LLC. grew its stake in General Dynamics by 9.8% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 875 shares of the aerospace company’s stock valued at $233,000 after purchasing an additional 78 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Cowen restated a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. TD Cowen raised their price target on shares of General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. TD Securities upped their price objective on shares of General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Citigroup cut their price objective on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Susquehanna boosted their target price on shares of General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $290.24.

General Dynamics Stock Performance

NYSE GD 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. The stock has a 50-day moving average of $277.88 and a 200 day moving average of $267.66. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last announced its earnings results 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. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. During the same period in the prior year, the company posted $2.88 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis. Sell-side analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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

General Dynamics Company 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.