Linscomb Wealth Inc. Has $3.60 Million Stock Position in General Dynamics Corporation (NYSE:GD)

Linscomb Wealth Inc. lowered its position in shares of General Dynamics Corporation (NYSE:GD) by 0.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,218 shares of the aerospace company’s stock after selling 63 shares during the quarter. Linscomb Wealth Inc.’s holdings in General Dynamics were worth $3,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. increased its position in General Dynamics by 0.5% in the first quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company’s stock worth $2,161,000 after buying an additional 37 shares in the last quarter. Sharpepoint LLC increased its position in General Dynamics by 4.2% in the first quarter. Sharpepoint LLC now owns 917 shares of the aerospace company’s stock worth $249,000 after buying an additional 37 shares in the last quarter. 1858 Wealth Management LLC increased its position 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 buying an additional 38 shares in the last quarter. Keystone Financial Services increased its position 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 buying an additional 38 shares in the last quarter. Finally, Pure Financial Advisors LLC increased its position in General Dynamics by 0.7% in the first quarter. Pure Financial Advisors LLC now owns 6,025 shares of the aerospace company’s stock worth $1,642,000 after buying an additional 39 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity

In other news, EVP Mark Lagrand Burns sold 43,860 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $312.28, for a total value of $13,696,600.80. Following the completion of the sale, the executive vice president directly owned 39,875 shares of the company’s stock, valued at $12,452,165. This trade represents a 52.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Phebe N. Novakovic sold 7,639 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at $215,828,587.08. This represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 268,370 shares of company stock valued at $78,408,011 in the last ninety days. Insiders own 1.50% of the company’s stock.

General Dynamics Stock Performance

NYSE GD opened at $313.98 on Monday. The stock has a market capitalization of $84.46 billion, a PE ratio of 21.07, a P/E/G ratio of 1.93 and a beta of 0.48. The business has a 50 day simple moving average of $294.78 and a two-hundred day simple moving average of $275.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $322.50.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to analysts’ expectations of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.26 EPS. On average, research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s dividend payout ratio (DPR) is presently 40.27%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. TD Securities upped their price target on General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Barclays upped their price target on General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. UBS Group increased their target price on General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Citigroup increased their target price on General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Cowen reiterated a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, General Dynamics has a consensus rating of “Hold” and a consensus target price of $315.78.

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.