Atria Wealth Solutions Inc. Acquires 998 Shares of General Dynamics Co. (NYSE:GD)

Atria Wealth Solutions Inc. grew its holdings in General Dynamics Co. (NYSE:GD) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,406 shares of the aerospace company’s stock after acquiring an additional 998 shares during the period. Atria Wealth Solutions Inc.’s holdings in General Dynamics were worth $6,857,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GD. Schnieders Capital Management LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at $220,000. Arbor Wealth Advisors LLC purchased a new position in General Dynamics during the fourth quarter valued at $804,000. Wolverine Asset Management LLC purchased a new position in General Dynamics during the fourth quarter valued at $2,207,000. Weatherly Asset Management L. P. grew its stake in General Dynamics by 8.7% during the fourth quarter. Weatherly Asset Management L. P. now owns 28,766 shares of the aerospace company’s stock valued at $7,470,000 after acquiring an additional 2,303 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in General Dynamics during the fourth quarter valued at $609,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Trading Down 0.1 %

GD traded down $0.20 on Friday, reaching $284.70. 85,342 shares of the company traded hands, compared to its average volume of 1,099,931. General Dynamics Co. has a one year low of $202.35 and a one year high of $296.50. The firm has a fifty day simple moving average of $280.56 and a two-hundred day simple moving average of $261.39. The company has a market cap of $78.11 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 1.79 and a beta of 0.68. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The firm had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same period in the previous year, the firm earned $2.64 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts expect that General Dynamics Co. will post 14.56 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be given a $1.42 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is presently 46.33%.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the sale, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GD shares. Alembic Global Advisors cut shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price for the company. in a research note on Monday, January 29th. UBS Group lifted their price objective on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Wells Fargo & Company lifted their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Susquehanna lifted their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Finally, Citigroup lifted their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $285.63.

General Dynamics 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.