General Dynamics Corporation $GD Stock Holdings Boosted by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC increased its position in General Dynamics Corporation (NYSE:GD) by 118.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,706 shares of the aerospace company’s stock after acquiring an additional 8,526 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in General Dynamics were worth $5,391,000 at the end of the most recent reporting period.

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

Insider Transactions at General Dynamics

In related news, Director Mark Malcolm sold 5,480 shares of the 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 in the company, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares in the company, valued at $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 78,190 shares of company stock valued at $27,041,022 in the last ninety days. 1.40% of the stock is owned by company insiders.

General Dynamics Stock Performance

Shares of NYSE GD opened at $346.30 on Friday. General Dynamics Corporation has a 12 month low of $288.62 and a 12 month high of $369.70. The company has a market cap of $93.65 billion, a P/E ratio of 21.79, a P/E/G ratio of 2.15 and a beta of 0.34. The business’s 50 day moving average is $341.71 and its two-hundred day moving average is $347.50. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating 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 company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. During the same period in the prior year, the business earned $3.66 earnings per share. General Dynamics’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts expect that General Dynamics Corporation will post 16.63 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. General Dynamics’s payout ratio is presently 40.03%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the company from $380.00 to $400.00 in a research note on Thursday, June 11th. JPMorgan Chase & Co. raised their target price on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. DA Davidson dropped their price target on General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Morgan Stanley increased their price objective on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group decreased their price objective on General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research report on Monday, May 4th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $388.40.

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.