Axxcess Wealth Management LLC Has $7.75 Million Position in General Dynamics Corporation $GD

Key Points

• Axxcess Wealth Management increased its stake in General Dynamics by 185.3% in Q4, ending with 23,016 shares worth about $7.75 million.
• General Dynamics beat earnings expectations in its latest quarter, reporting EPS of $4.10 versus estimates of $3.67, while revenue rose 10.3% year over year to $13.48 billion.
• The company also raised its quarterly dividend to $1.59 per share, and Wall Street currently rates the stock a Moderate Buy with a consensus price target of $387.40.

Axxcess Wealth Management LLC boosted its position in General Dynamics Corporation (NYSE:GD - Free Report) by 185.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,016 shares of the aerospace company's stock after purchasing an additional 14,950 shares during the period. Axxcess Wealth Management LLC's holdings in General Dynamics were worth $7,748,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. WASHINGTON TRUST Co increased its holdings in General Dynamics by 453.3% in the 3rd quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company's stock worth $3,212,000 after purchasing an additional 7,716 shares in the last quarter. Rockland Trust Co. grew its position in shares of General Dynamics by 703.4% in the 3rd quarter. Rockland Trust Co. now owns 10,548 shares of the aerospace company's stock valued at $3,597,000 after buying an additional 9,235 shares during the last quarter. Vanguard Group Inc. grew its position in shares of General Dynamics by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company's stock valued at $8,338,169,000 after buying an additional 528,769 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of General Dynamics by 3.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 917,424 shares of the aerospace company's stock valued at $312,842,000 after buying an additional 32,262 shares during the last quarter. Finally, Modern Wealth Management LLC grew its position in shares of General Dynamics by 114.7% in the 3rd quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company's stock valued at $2,088,000 after buying an additional 3,271 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GD. Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $387.00 to $377.00 and set a "hold" rating on the stock in a research report on Wednesday, May 6th. Bank of America reiterated a "buy" rating and issued a $400.00 price target on shares of General Dynamics in a research report on Friday, January 30th. UBS Group reduced their price target on General Dynamics from $385.00 to $371.00 and set a "neutral" rating on the stock in a research report on Thursday, April 30th. BNP Paribas Exane cut their target price on General Dynamics from $430.00 to $390.00 and set an "outperform" rating on the stock in a research report on Thursday, April 30th. Finally, DA Davidson cut their target price on General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, General Dynamics currently has an average rating of "Moderate Buy" and a consensus target price of $387.40.

Insider Buying and Selling

In related news, EVP Mark Lagrand Burns sold 36,480 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the transaction, the executive vice president directly owned 38,975 shares of the company's stock, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total value of $1,350,016.50. Following the completion of the sale, the executive vice president directly owned 44,767 shares of the company's stock, valued at approximately $15,825,134.50. This trade represents a 7.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 119,600 shares of company stock valued at $41,650,580. 1.40% of the stock is owned by company insiders.

General Dynamics Stock Up 1.3%

GD stock opened at $343.20 on Friday. The stock's 50 day simple moving average is $341.74 and its 200 day simple moving average is $346.48. General Dynamics Corporation has a fifty-two week low of $268.10 and a fifty-two week high of $369.70. 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 company has a market cap of $92.81 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 2.13 and a beta of 0.34.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. During the same period in the prior year, the business earned $3.66 EPS. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. On average, research analysts expect that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were paid a dividend of $1.59 per share. This is an increase from General Dynamics's previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a yield of 1.9%. General Dynamics's dividend payout ratio (DPR) is currently 40.03%.

About General Dynamics

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.

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