Benjamin Edwards Inc. Has $10.83 Million Stock Position in General Dynamics Corporation (NYSE:GD)

Key Points

• Benjamin Edwards Inc. has reduced its stake in General Dynamics Corporation by 8.8%, now holding 39,743 shares valued at approximately $10.8 million.
• The company recently announced a quarterly dividend of $1.50 per share, representing a 1.9% yield and an annualized dividend of $6.00.
• General Dynamics reported a Q2 EPS of $3.74, exceeding estimates, with revenue of $13.04 billion—an 8.9% year-over-year increase.

Benjamin Edwards Inc. trimmed its position in General Dynamics Corporation (NYSE:GD - Free Report) by 8.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,743 shares of the aerospace company's stock after selling 3,853 shares during the quarter. Benjamin Edwards Inc.'s holdings in General Dynamics were worth $10,833,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in General Dynamics by 34,578.2% during the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock valued at $339,253,000 after purchasing an additional 1,241,011 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in General Dynamics during the 4th quarter valued at approximately $279,582,000. Deutsche Bank AG boosted its position in General Dynamics by 120.9% during the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock valued at $343,866,000 after purchasing an additional 690,349 shares during the period. Capital Research Global Investors boosted its position in General Dynamics by 7.4% during the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock valued at $1,774,381,000 after purchasing an additional 463,497 shares during the period. Finally, Voloridge Investment Management LLC boosted its position in General Dynamics by 6,387.2% during the 4th quarter. Voloridge Investment Management LLC now owns 401,236 shares of the aerospace company's stock valued at $105,722,000 after purchasing an additional 395,051 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the company a "market perform" rating in a research report on Monday, July 14th. Wolfe Research upgraded General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target for the company in a research report on Thursday, July 24th. Citigroup boosted their price target on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. TD Cowen boosted their price target on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Morgan Stanley reduced their price target on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $315.78.

Insider Buying and Selling

In other news, Director Leon Rudy F. De sold 5,490 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the sale, the director directly owned 5,483 shares of the company's stock, valued at $1,715,137.23. The trade was a 50.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Phebe N. Novakovic sold 7,639 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 769,607 shares in the company, valued at $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 302,110 shares of company stock valued at $89,042,859 over the last ninety days. 1.50% of the stock is currently owned by company insiders.

General Dynamics Price Performance

Shares of General Dynamics stock traded down $0.94 during trading on Tuesday, hitting $314.00. The stock had a trading volume of 1,034,370 shares, compared to its average volume of 1,266,210. The business has a fifty day moving average of $296.33 and a two-hundred day moving average of $276.16. The firm has a market cap of $84.46 billion, a P/E ratio of 21.07, a PEG ratio of 1.93 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $322.50.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. The company had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. General Dynamics's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.26 earnings per share. On average, sell-side analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. General Dynamics's payout ratio is 40.27%.

General Dynamics Company 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.