3Chopt Investment Partners LLC Buys New Stake in General Dynamics Corporation (NYSE:GD)

3Chopt Investment Partners LLC bought a new stake in General Dynamics Corporation (NYSE:GD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 920 shares of the aerospace company's stock, valued at approximately $251,000.

Other large investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC grew its holdings in shares of General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after purchasing an additional 62 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of General Dynamics during the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Dynamics during the fourth quarter worth about $26,000. Inlight Wealth Management LLC purchased a new position in shares of General Dynamics during the first quarter worth about $26,000. Finally, Copia Wealth Management purchased a new position in shares of General Dynamics during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. TD Securities raised their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Morgan Stanley decreased their target price on shares of 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. Wells Fargo & Company decreased their target price on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Citigroup decreased their target price on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, TD Cowen increased their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $290.24.

General Dynamics Price Performance

Shares of NYSE:GD opened at $290.83 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. The company has a market cap of $78.06 billion, a P/E ratio of 20.17, a PEG ratio of 1.96 and a beta of 0.46. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $316.90. The company has a 50-day moving average price of $276.55 and a 200 day moving average price of $267.06.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter last year, the firm earned $2.88 earnings per share. The firm's revenue was up 13.9% compared to the same quarter last year. Research analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.06%. General Dynamics's payout ratio is 41.61%.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the completion of the transaction, the chief executive officer now directly owns 769,607 shares of the company's stock, valued at $217,898,829.91. This trade represents a 18.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company's stock.

About General Dynamics

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.

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