Charles Schwab Investment Management Inc. boosted its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,582,388 shares of the aerospace company's stock after acquiring an additional 5,313 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.59% of General Dynamics worth $431,327,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Retirement Guys Formula LLC acquired a new stake in General Dynamics during the first quarter valued at approximately $1,692,000. Advisory Resource Group increased its holdings in General Dynamics by 7.1% during the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock valued at $5,234,000 after purchasing an additional 1,276 shares in the last quarter. Mission Wealth Management LP increased its holdings in General Dynamics by 18.9% during the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock valued at $4,401,000 after purchasing an additional 2,568 shares in the last quarter. Matrix Asset Advisors Inc. NY increased its holdings in General Dynamics by 31.6% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company's stock valued at $9,171,000 after purchasing an additional 8,073 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. increased its holdings in General Dynamics by 11.5% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company's stock valued at $4,504,000 after purchasing an additional 1,704 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.
General Dynamics Stock Up 0.4%
Shares of NYSE GD traded up $1.25 during mid-day trading on Friday, hitting $313.98. The company had a trading volume of 1,157,284 shares, compared to its average volume of 1,263,103. The company has a market capitalization of $84.46 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.93 and a beta of 0.48. The firm has a 50-day simple moving average of $294.78 and a two-hundred day simple moving average of $275.50. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a one year low of $239.20 and a one year high of $322.50.
General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.27. The company had revenue of $13.04 billion during the quarter, compared to analysts' expectations 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 quarter last year, the company earned $3.26 EPS. On average, equities analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.
General Dynamics Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is 40.27%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on GD. Argus set a $295.00 price target on General Dynamics in a report on Tuesday, May 6th. Robert W. Baird raised their price target on General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Barclays upped their price objective on General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft raised General Dynamics from a "hold" rating to a "buy" rating and upped their price objective for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. Finally, Wolfe Research raised General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target on the stock in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $315.78.
Check Out Our Latest Stock Analysis on GD
Insider Activity at General Dynamics
In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the firm'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 transaction of $2,142,281.16. Following the completion of the sale, the chief executive officer directly owned 769,607 shares in the company, valued at $215,828,587.08. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the sale, the executive vice president owned 39,875 shares of the company's stock, valued at $12,452,165. This trade represents a 52.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,370 shares of company stock worth $78,408,011. Insiders own 1.50% of the company's stock.
General Dynamics Company Profile
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Free Report)
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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