HB Wealth Management LLC increased its stake in shares of General Dynamics Co. (NYSE:GD – Get Rating) by 4.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,818 shares of the aerospace company’s stock after purchasing an additional 1,025 shares during the period. HB Wealth Management LLC’s holdings in General Dynamics were worth $5,491,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Certified Advisory Corp bought a new position in General Dynamics in the 1st quarter worth about $25,000. Wagner Wealth Management LLC increased its stake in General Dynamics by 71.6% in the 4th quarter. Wagner Wealth Management LLC now owns 139 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 58 shares during the last quarter. Tyler Stone Wealth Management bought a new position in General Dynamics in the 4th quarter worth about $31,000. Carolinas Wealth Consulting LLC increased its stake in General Dynamics by 128.2% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 178 shares of the aerospace company’s stock worth $37,000 after acquiring an additional 100 shares during the last quarter. Finally, James Investment Research Inc. bought a new position in General Dynamics in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 86.16% of the company’s stock.
Insider Activity at General Dynamics
In related news, CEO Phebe N. Novakovic sold 71,461 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $227.05, for a total transaction of $16,225,220.05. Following the sale, the chief executive officer now directly owns 781,152 shares of the company’s stock, valued at approximately $177,360,561.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.
General Dynamics Stock Down 3.8 %
General Dynamics (NYSE:GD – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The aerospace company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.03. General Dynamics had a return on equity of 19.25% and a net margin of 8.61%. The company had revenue of $9.19 billion during the quarter, compared to analyst estimates of $9.42 billion. During the same quarter last year, the company earned $2.61 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts predict that General Dynamics Co. will post 12.16 EPS for the current year.
General Dynamics Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be given a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, October 6th. General Dynamics’s dividend payout ratio (DPR) is 42.64%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on GD. Seaport Res Ptn reiterated a “buy” rating on shares of General Dynamics in a research report on Wednesday, July 27th. Cowen set a $260.00 price objective on General Dynamics in a research report on Tuesday, July 19th. Finally, Royal Bank of Canada assumed coverage on General Dynamics in a research report on Monday, August 29th. They set an “outperform” rating and a $275.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.38.
General Dynamics Company 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 designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.
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