Krilogy Financial LLC Sells 2,407 Shares of General Dynamics Corporation $GD

Krilogy Financial LLC lowered its holdings in shares of General Dynamics Corporation (NYSE:GD) by 39.1% in the first quarter, Holdings Channel.com reports. The fund owned 3,754 shares of the aerospace company’s stock after selling 2,407 shares during the quarter. Krilogy Financial LLC’s holdings in General Dynamics were worth $1,257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WASHINGTON TRUST Co increased its holdings in General Dynamics by 453.3% during the 3rd quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company’s stock worth $3,212,000 after purchasing an additional 7,716 shares during the period. Vanguard Group Inc. raised its position in General Dynamics by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock valued at $8,338,169,000 after purchasing an additional 528,769 shares in the last quarter. Modern Wealth Management LLC lifted its holdings in shares of General Dynamics by 114.7% in the 3rd quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company’s stock worth $2,088,000 after buying an additional 3,271 shares during the period. Jain Global LLC grew its position in shares of General Dynamics by 97.8% during the 3rd quarter. Jain Global LLC now owns 169,305 shares of the aerospace company’s stock worth $57,733,000 after buying an additional 83,692 shares in the last quarter. Finally, M&T Bank Corp grew its position in shares of General Dynamics by 155.6% during the 4th quarter. M&T Bank Corp now owns 104,773 shares of the aerospace company’s stock worth $35,273,000 after buying an additional 63,781 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

GD has been the subject of several recent research reports. Wells Fargo & Company started coverage on General Dynamics in a report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price objective for the company. Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Morgan Stanley boosted their price target on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings cut shares of General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Two investment 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 issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $388.40.

General Dynamics Stock Performance

Shares of GD opened at $344.19 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a market cap of $93.08 billion, a PE ratio of 21.66, a P/E/G ratio of 2.13 and a beta of 0.34. General Dynamics Corporation has a 12 month low of $286.36 and a 12 month high of $369.70. The stock has a fifty day moving average price of $341.57 and a 200-day moving average price of $347.51.

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

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is 40.03%.

Insider Buying and Selling

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. The trade was 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 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 transaction, the director owned 10,643 shares in the company, valued at $3,884,695. The trade was a 33.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 78,190 shares of company stock valued at $27,041,022 over the last quarter. 1.40% of the stock is owned by company 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.