General Dynamics Co. (GD) Shares Bought by Edge Wealth Management LLC
Edge Wealth Management LLC boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 73.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,034 shares of the aerospace company’s stock after purchasing an additional 24,909 shares during the quarter. General Dynamics accounts for approximately 2.6% of Edge Wealth Management LLC’s holdings, making the stock its 16th biggest position. Edge Wealth Management LLC’s holdings in General Dynamics were worth $9,281,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Carroll Financial Associates Inc. grew its holdings in shares of General Dynamics by 11.9% in the 4th quarter. Carroll Financial Associates Inc. now owns 1,228 shares of the aerospace company’s stock worth $194,000 after purchasing an additional 131 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of General Dynamics by 5.6% during the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,747 shares of the aerospace company’s stock worth $746,000 after acquiring an additional 250 shares in the last quarter. United Capital Management of KS Inc. grew its stake in shares of General Dynamics by 5.2% during the 4th quarter. United Capital Management of KS Inc. now owns 3,359 shares of the aerospace company’s stock worth $528,000 after acquiring an additional 166 shares in the last quarter. USS Investment Management Ltd grew its stake in shares of General Dynamics by 0.6% during the 4th quarter. USS Investment Management Ltd now owns 143,200 shares of the aerospace company’s stock worth $22,511,000 after acquiring an additional 800 shares in the last quarter. Finally, Legacy Capital Partners Inc. grew its stake in shares of General Dynamics by 0.5% during the 4th quarter. Legacy Capital Partners Inc. now owns 17,986 shares of the aerospace company’s stock worth $2,828,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 86.36% of the company’s stock.
In other General Dynamics news, Director Catherine B. Reynolds purchased 600 shares of the company’s stock in a transaction dated Friday, December 7th. The shares were bought at an average price of $167.64 per share, for a total transaction of $100,584.00. Following the purchase, the director now directly owns 1,153 shares in the company, valued at approximately $193,288.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Malcolm purchased 3,000 shares of the company’s stock in a transaction dated Friday, October 26th. The shares were acquired at an average price of $169.87 per share, for a total transaction of $509,610.00. Following the purchase, the director now owns 4,455 shares in the company, valued at $756,770.85. The disclosure for this purchase can be found here. 6.90% of the stock is owned by corporate insiders.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.13. General Dynamics had a net margin of 9.01% and a return on equity of 27.22%. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same period in the prior year, the business posted $2.52 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, sell-side analysts expect that General Dynamics Co. will post 11.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 18th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, January 17th. General Dynamics’s dividend payout ratio is presently 37.39%.
Several brokerages have recently weighed in on GD. Susquehanna Bancshares began coverage on shares of General Dynamics in a research note on Thursday. They set a “neutral” rating and a $175.00 price target for the company. FIG Partners raised shares of General Dynamics to an “add” rating in a research note on Tuesday. Jefferies Financial Group cut shares of General Dynamics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $197.00 to $164.00 in a research note on Tuesday. Barclays dropped their price target on General Dynamics from $256.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 4th. Finally, Morgan Stanley cut their price target on General Dynamics from $209.00 to $189.00 and set an “underweight” rating for the company in a research note on Wednesday, November 14th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $220.32.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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