Nicholas Hoffman & Company LLC. Sells 2,399 Shares of General Dynamics Corporation $GD

Nicholas Hoffman & Company LLC. lessened its position in shares of General Dynamics Corporation (NYSE:GD) by 30.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,595 shares of the aerospace company’s stock after selling 2,399 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in General Dynamics were worth $1,920,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Aljian Capital Management LLC lifted its holdings in shares of General Dynamics by 14.7% during the first quarter. Aljian Capital Management LLC now owns 6,674 shares of the aerospace company’s stock worth $2,291,000 after buying an additional 855 shares in the last quarter. R Squared Ltd raised its stake in General Dynamics by 280.4% in the 1st quarter. R Squared Ltd now owns 4,318 shares of the aerospace company’s stock worth $1,482,000 after purchasing an additional 3,183 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in General Dynamics by 8.6% in the 1st quarter. Resonant Capital Advisors LLC now owns 2,144 shares of the aerospace company’s stock valued at $736,000 after purchasing an additional 170 shares during the period. Unison Advisors LLC increased its holdings in shares of General Dynamics by 0.4% during the first quarter. Unison Advisors LLC now owns 17,343 shares of the aerospace company’s stock worth $5,952,000 after purchasing an additional 71 shares during the period. Finally, Shelton Wealth Management LLC raised its position in shares of General Dynamics by 126.1% in the first quarter. Shelton Wealth Management LLC now owns 4,532 shares of the aerospace company’s stock valued at $1,555,000 after buying an additional 2,528 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GD shares. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and increased their price target for the stock from $380.00 to $400.00 in a research report on Thursday, June 11th. Morgan Stanley boosted their target price on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. UBS Group raised shares of General Dynamics from a “neutral” rating to a “buy” rating in a research note on Thursday, June 11th. The Goldman Sachs Group cut their target price 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, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $385.00 price target on shares of General Dynamics in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $389.15.

Insider Activity

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 78,190 shares of company stock valued at $27,041,022 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $374.49 on Wednesday. General Dynamics Corporation has a one year low of $293.95 and a one year high of $380.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The company has a market cap of $101.27 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 2.34 and a beta of 0.34. The firm has a 50 day simple moving average of $347.36 and a 200 day simple moving average of $348.95.

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

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio is presently 40.03%.

General Dynamics 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.