Hager Investment Management Services LLC Has $176,000 Stake in General Dynamics Corporation (NYSE:GD)

Hager Investment Management Services LLC reduced its holdings in General Dynamics Corporation (NYSE:GD) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 646 shares of the aerospace company’s stock after selling 76 shares during the quarter. Hager Investment Management Services LLC’s holdings in General Dynamics were worth $176,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GD. Retirement Guys Formula LLC bought a new position in General Dynamics in the 1st quarter worth approximately $1,692,000. Advisory Resource Group increased its position in General Dynamics by 7.1% during the first quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company’s stock worth $5,234,000 after acquiring an additional 1,276 shares during the period. Virtu Financial LLC raised its stake in General Dynamics by 59.1% during the 4th quarter. Virtu Financial LLC now owns 2,929 shares of the aerospace company’s stock valued at $772,000 after purchasing an additional 1,088 shares during the last quarter. Mission Wealth Management LP grew its position in General Dynamics by 18.9% in the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company’s stock worth $4,401,000 after purchasing an additional 2,568 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY increased its holdings in shares of General Dynamics by 31.6% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company’s stock worth $9,171,000 after purchasing an additional 8,073 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup raised their price objective on General Dynamics from $330.00 to $348.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley cut their target price on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group set a $325.00 price target on shares of General Dynamics and gave the stock a “hold” rating in a research note on Wednesday, July 9th. Cowen restated a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the company from $298.00 to $342.00 in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $294.53.

General Dynamics Stock Up 1.0%

General Dynamics stock opened at $305.12 on Tuesday. The firm has a market capitalization of $81.89 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.01 and a beta of 0.46. The company’s 50 day simple moving average is $282.14 and its 200 day simple moving average is $269.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $2.88 earnings per share. As a group, sell-side analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 1.97%. General Dynamics’s dividend payout ratio is presently 41.61%.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 7,639 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at $215,828,587.08. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

General Dynamics 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 produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.