Retirement Guys Formula LLC Purchases Shares of 6,209 General Dynamics Corporation (NYSE:GD)

Retirement Guys Formula LLC acquired a new stake in General Dynamics Corporation (NYSE:GD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,209 shares of the aerospace company's stock, valued at approximately $1,692,000.

Other large investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC lifted its position in General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in General Dynamics during the fourth quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $26,000. Inlight Wealth Management LLC purchased a new position in shares of General Dynamics during the first quarter worth approximately $26,000. Finally, Copia Wealth Management purchased a new stake in General Dynamics in the 4th quarter valued at $27,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 7,639 shares of General Dynamics stock in a transaction on Monday, June 16th. The stock was sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the sale, the chief executive officer now owns 769,607 shares of the company's stock, valued at $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company's stock.

General Dynamics Price Performance

Shares of NYSE:GD traded down $1.02 during midday trading on Tuesday, hitting $281.30. 1,124,890 shares of the stock were exchanged, compared to its average volume of 1,387,806. The stock has a market cap of $75.50 billion, a P/E ratio of 19.51, a PEG ratio of 1.88 and a beta of 0.46. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $316.90. The company has a 50 day moving average price of $275.66 and a 200-day moving average price of $266.52. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter in the prior year, the firm earned $2.88 earnings per share. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, research analysts forecast 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 issued a $1.50 dividend. 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 2.13%. General Dynamics's dividend payout ratio (DPR) is 41.61%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GD. Citigroup reduced their target price on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Susquehanna increased their price objective on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company dropped their target price on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. UBS Group increased their price target on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Cowen reissued a "buy" rating on shares of General Dynamics in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $293.00.

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.