Brookstone Capital Management Has $7.62 Million Stock Position in General Dynamics Corporation (NYSE:GD)

Brookstone Capital Management lifted its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 51.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,943 shares of the aerospace company's stock after acquiring an additional 9,533 shares during the quarter. Brookstone Capital Management's holdings in General Dynamics were worth $7,617,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. 1858 Wealth Management LLC lifted its stake in shares of General Dynamics by 1.2% in the first quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock worth $879,000 after acquiring an additional 38 shares during the period. Keystone Financial Services lifted its position in shares of General Dynamics by 1.6% in the 1st quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock worth $660,000 after purchasing an additional 38 shares during the period. Pure Financial Advisors LLC lifted its position in shares of General Dynamics by 0.7% in the 1st quarter. Pure Financial Advisors LLC now owns 6,025 shares of the aerospace company's stock worth $1,642,000 after purchasing an additional 39 shares during the period. Thrive Wealth Management LLC lifted its position in shares of General Dynamics by 2.1% in the 1st quarter. Thrive Wealth Management LLC now owns 2,002 shares of the aerospace company's stock worth $546,000 after purchasing an additional 41 shares during the period. Finally, Austin Wealth Management LLC lifted its position in shares of General Dynamics by 5.4% in the 4th quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company's stock worth $220,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Activity

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the business's stock in a transaction 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 transaction, the chief executive officer directly owned 769,607 shares of the company's stock, valued at approximately $217,898,829.91. The trade was a 18.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company's stock.

General Dynamics Stock Performance

General Dynamics stock opened at $294.00 on Friday. The company has a market capitalization of $78.91 billion, a PE ratio of 20.39, a P/E/G ratio of 1.98 and a beta of 0.46. The firm has a fifty day simple moving average of $278.76 and a two-hundred day simple moving average of $268.05. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping 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 period in the previous year, the firm earned $2.88 earnings per share. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. Research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 2.04%. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

Analysts Set New Price Targets

Several brokerages have issued reports on GD. Argus set a $295.00 price target on General Dynamics in a research note on Tuesday, May 6th. TD Securities boosted their target price on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Citigroup dropped their target price on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. TD Cowen upped their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Finally, Wells Fargo & Company dropped their price objective on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $290.24.

General Dynamics 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.

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