Cerity Partners LLC Has $16.71 Million Position in General Dynamics Corporation (NYSE:GD)

Cerity Partners LLC grew its position in General Dynamics Corporation (NYSE:GD - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,304 shares of the aerospace company's stock after acquiring an additional 1,834 shares during the quarter. Cerity Partners LLC's holdings in General Dynamics were worth $16,710,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GD. Principal Securities Inc. lifted its position in shares of General Dynamics by 0.5% during the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock worth $2,161,000 after buying an additional 37 shares during the period. Sharpepoint LLC lifted its holdings in shares of General Dynamics by 4.2% during the first quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock valued at $249,000 after acquiring an additional 37 shares during the period. 1858 Wealth Management LLC grew its holdings in shares of General Dynamics by 1.2% in the 1st quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock worth $879,000 after purchasing an additional 38 shares during the last quarter. Keystone Financial Services increased its position in shares of General Dynamics by 1.6% during 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 in the last quarter. Finally, Pure Financial Advisors LLC boosted its position in General Dynamics by 0.7% in the first quarter. Pure Financial Advisors LLC now owns 6,025 shares of the aerospace company's stock valued at $1,642,000 after buying an additional 39 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

GD has been the subject of several recent analyst reports. TD Securities raised their price objective on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the company a "hold" rating in a research report on Wednesday. Morgan Stanley decreased their target price on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a "hold" rating to a "buy" rating and increased their price objective for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $295.53.

General Dynamics Trading Up 1.0%

NYSE GD traded up $2.92 during trading on Monday, reaching $305.12. 1,147,062 shares of the stock traded hands, compared to its average volume of 1,501,107. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $316.90. 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 firm has a market cap of $81.89 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The stock's 50-day moving average price is $281.48 and its 200 day moving average price is $269.33.

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. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The firm's revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.88 EPS. Analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 1.97%. General Dynamics's dividend payout ratio is presently 41.61%.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 7,639 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at $215,828,587.08. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company's stock.

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.