General Dynamics Corporation (NYSE:GD) Shares Bought by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC increased its stake in General Dynamics Corporation by 44%, owning 3,016 shares valued at $813,000 at the end of Q1.
• In the last thirty days, insiders have sold 268,370 shares of General Dynamics, totaling approximately $78.4 million in value, reflecting notable insider activity.
• The company reported earnings of $3.74 per share for the last quarter, exceeding estimates, with a year-over-year revenue increase of 8.9%.

Chicago Partners Investment Group LLC boosted its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 44.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,016 shares of the aerospace company's stock after purchasing an additional 921 shares during the quarter. Chicago Partners Investment Group LLC's holdings in General Dynamics were worth $813,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GD. Charles Schwab Investment Management Inc. raised its position in shares of General Dynamics by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock valued at $431,327,000 after buying an additional 5,313 shares in the last quarter. Strategy Asset Managers LLC raised its position in shares of General Dynamics by 2.3% during the 1st quarter. Strategy Asset Managers LLC now owns 23,828 shares of the aerospace company's stock valued at $6,495,000 after buying an additional 546 shares in the last quarter. Hemington Wealth Management raised its position in shares of General Dynamics by 17.0% during the 1st quarter. Hemington Wealth Management now owns 324 shares of the aerospace company's stock valued at $88,000 after buying an additional 47 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its position in shares of General Dynamics by 2.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 6,067 shares of the aerospace company's stock valued at $1,654,000 after buying an additional 155 shares in the last quarter. Finally, Legacy Capital Group California Inc. raised its position in shares of General Dynamics by 3.1% during the 1st quarter. Legacy Capital Group California Inc. now owns 4,086 shares of the aerospace company's stock valued at $1,114,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

Shares of GD stock traded down $0.94 on Tuesday, reaching $314.00. 1,034,370 shares of the company were exchanged, compared to its average volume of 1,467,123. The company has a market cap of $84.46 billion, a price-to-earnings ratio of 21.07, a P/E/G ratio of 1.93 and a beta of 0.48. The business has a 50-day moving average price of $295.57 and a 200 day moving average price of $275.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $322.50.

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

General Dynamics Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GD. Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the stock a "market perform" rating in a research report on Monday, July 14th. UBS Group increased their price objective on shares of General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Robert W. Baird increased their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, TD Cowen increased their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $315.78.

Insider Buying and Selling at General Dynamics

In related news, Director Leon Rudy F. De sold 5,490 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the transaction, the director directly owned 5,483 shares in the company, valued at approximately $1,715,137.23. The trade was a 50.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 178,821 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at $217,898,829.91. The trade was a 18.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 302,110 shares of company stock valued at $89,042,859. Insiders own 1.50% of the company's stock.

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.