Fairvoy Private Wealth LLC Lowers Position in General Dynamics Corporation $GD

Fairvoy Private Wealth LLC trimmed its position in shares of General Dynamics Corporation (NYSE:GD) by 26.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,662 shares of the aerospace company’s stock after selling 3,391 shares during the quarter. Fairvoy Private Wealth LLC’s holdings in General Dynamics were worth $3,316,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. First American Bank lifted its position in General Dynamics by 2.8% in the first quarter. First American Bank now owns 4,298 shares of the aerospace company’s stock valued at $1,475,000 after purchasing an additional 117 shares during the period. Kestra Private Wealth Services LLC increased its position in General Dynamics by 4.1% during the 1st quarter. Kestra Private Wealth Services LLC now owns 57,673 shares of the aerospace company’s stock worth $19,795,000 after purchasing an additional 2,290 shares during the period. Ritholtz Wealth Management raised its stake in shares of General Dynamics by 1.5% during the 1st quarter. Ritholtz Wealth Management now owns 17,312 shares of the aerospace company’s stock worth $5,942,000 after buying an additional 255 shares in the last quarter. Global Financial Private Client LLC lifted its holdings in shares of General Dynamics by 24.5% in the 1st quarter. Global Financial Private Client LLC now owns 2,676 shares of the aerospace company’s stock valued at $918,000 after buying an additional 526 shares during the period. Finally, Independence Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the 1st quarter valued at approximately $319,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

NYSE GD opened at $344.19 on Friday. The business has a 50 day moving average price of $341.57 and a 200 day moving average price of $347.51. The company has a market capitalization of $93.08 billion, a P/E ratio of 21.66, a PEG ratio of 2.13 and a beta of 0.34. General Dynamics Corporation has a 1-year low of $286.36 and a 1-year high of $369.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.General Dynamics’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.66 earnings per share. Sell-side analysts expect that General Dynamics Corporation will post 16.63 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s payout ratio is 40.03%.

Insider Activity

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Malcolm sold 5,480 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director directly owned 10,643 shares in the company, valued at $3,884,695. This trade represents a 33.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 78,190 shares of company stock worth $27,041,022 over the last quarter. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup dropped their price objective on General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $380.00 to $400.00 in a research report on Thursday, June 11th. BNP Paribas Exane lowered their price target on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $385.00 price target on shares of General Dynamics in a report on Thursday, April 30th. Finally, Wells Fargo & Company assumed coverage on shares of General Dynamics in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $388.40.

About General Dynamics

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.