Sequoia Financial Advisors LLC Grows Position in General Dynamics Corporation $GD

Sequoia Financial Advisors LLC grew its position in shares of General Dynamics Corporation (NYSE:GD) by 4.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,429 shares of the aerospace company’s stock after purchasing an additional 2,318 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in General Dynamics were worth $17,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Brighton Jones LLC raised its position in shares of General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after acquiring an additional 417 shares during the period. Acadian Asset Management LLC grew its position in shares of General Dynamics by 140.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock valued at $938,000 after acquiring an additional 2,011 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of General Dynamics in the 2nd quarter valued at about $240,000. Flow Traders U.S. LLC acquired a new position in General Dynamics in the 2nd quarter worth about $352,000. Finally, Jump Financial LLC purchased a new position in General Dynamics during the second quarter worth approximately $1,284,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In related news, Director Mark Malcolm sold 5,480 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 78,190 shares of company stock valued at $27,041,022. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BNP Paribas Exane cut their price objective on General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. boosted their price target on shares of General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley upped their price objective on shares of General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $385.00 target price on shares of General Dynamics in a research report 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 given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $391.15.

General Dynamics Price Performance

Shares of NYSE GD traded down $0.09 during mid-day trading on Friday, reaching $374.51. The company’s stock had a trading volume of 1,008,554 shares, compared to its average volume of 1,289,890. The stock has a 50-day moving average of $350.54 and a two-hundred day moving average of $349.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The stock has a market capitalization of $101.28 billion, a P/E ratio of 23.57, a P/E/G ratio of 2.26 and a beta of 0.34. General Dynamics Corporation has a 1-year low of $293.95 and a 1-year high of $380.71.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. General Dynamics’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.66 EPS. On average, equities research analysts anticipate that General Dynamics Corporation will post 16.64 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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