Soltis Investment Advisors LLC Increases Stock Holdings in General Dynamics Corporation $GD

Soltis Investment Advisors LLC increased its holdings in shares of General Dynamics Corporation (NYSE:GD) by 11.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,926 shares of the aerospace company’s stock after buying an additional 1,897 shares during the period. Soltis Investment Advisors LLC’s holdings in General Dynamics were worth $6,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GD. AQR Capital Management LLC lifted its position in shares of General Dynamics by 118.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock valued at $567,372,000 after buying an additional 901,679 shares in the last quarter. Northern Trust Corp lifted its position in shares of General Dynamics by 35.0% during the 3rd quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock valued at $1,136,525,000 after buying an additional 863,392 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of General Dynamics by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 24,238,561 shares of the aerospace company’s stock valued at $8,265,349,000 after buying an additional 677,665 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of General Dynamics by 831.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 737,259 shares of the aerospace company’s stock valued at $251,405,000 after buying an additional 658,081 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of General Dynamics by 6,680.8% during the 4th quarter. SG Americas Securities LLC now owns 591,488 shares of the aerospace company’s stock valued at $199,130,000 after buying an additional 582,765 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction on 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 sale, the executive vice president directly owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total value of $1,350,016.50. Following the completion of the sale, the executive vice president directly owned 44,767 shares of the company’s stock, valued at $15,825,134.50. This trade represents a 7.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders 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.

Analyst Ratings Changes

GD has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on General Dynamics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 target price on the stock. Citigroup reduced their price objective on General Dynamics from $389.00 to $380.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. The Goldman Sachs Group reduced their price objective on General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. increased their price objective on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $388.20.

General Dynamics Stock Down 1.9%

NYSE GD opened at $334.29 on Friday. The business has a fifty day moving average price of $343.59 and a 200 day moving average price of $346.67. General Dynamics Corporation has a one year low of $268.10 and a one year high of $369.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The company has a market cap of $90.40 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.07 and a beta of 0.34.

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

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were paid a $1.59 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.9%. General Dynamics’s dividend payout ratio is 40.03%.

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.