Center for Wealth Management Advisory Makes New $1.43 Million Investment in General Dynamics Corporation $GD

Center for Wealth Management Advisory acquired a new position in shares of General Dynamics Corporation (NYSE:GD) in the 1st quarter, HoldingsChannel reports. The firm acquired 4,176 shares of the aerospace company’s stock, valued at approximately $1,433,000.

Other institutional investors and hedge funds have also modified their holdings of the company. KERR FINANCIAL PLANNING Corp bought a new stake in General Dynamics during the 3rd quarter worth approximately $25,000. Dagco Inc. acquired a new position in General Dynamics in the fourth quarter worth $25,000. Burkett Financial Services LLC grew its holdings in shares of General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 65 shares during the last quarter. Steph & Co. increased its stake in shares of General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after buying an additional 30 shares in the last quarter. Finally, Center for Financial Planning Inc. raised its holdings in shares of General Dynamics by 220.7% in the fourth quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock valued at $31,000 after buying an additional 64 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GD. Morgan Stanley increased their price objective on shares of General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and upped their target price for the stock from $380.00 to $400.00 in a research report on Thursday, June 11th. UBS Group raised shares of General Dynamics from a “neutral” rating to a “buy” rating in a report on Thursday, June 11th. The Goldman Sachs Group dropped their price objective on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research report on Monday, May 4th. Finally, Citigroup reduced 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. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and an average target price of $388.40.

General Dynamics Stock Performance

General Dynamics stock opened at $363.11 on Thursday. The company has a market cap of $98.20 billion, a PE ratio of 22.85, a PEG ratio of 2.19 and a beta of 0.34. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. General Dynamics Corporation has a 1 year low of $290.30 and a 1 year high of $369.70. The company’s 50-day moving average is $342.97 and its two-hundred day moving average is $347.92.

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

General Dynamics Announces Dividend

The business 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 $1.59 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio is 40.03%.

Insider Buying and Selling at General Dynamics

In other 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 transaction, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $2,000,200.00. Following the completion of the sale, the director owned 10,643 shares of the company’s stock, valued at $3,884,695. This 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 90 days. 1.40% of the stock is owned by corporate insiders.

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.