Commonwealth Equity Services LLC Has $47.77 Million Holdings in General Dynamics Corporation (NYSE:GD)

Key Points

• Commonwealth Equity Services LLC increased its stake in General Dynamics Corporation by 5.4%, owning approximately $47.77 million in shares as of the latest 13F filing.
• Insider transactions included Director Leon Rudy F. De selling 5,490 shares and CEO Phebe N. Novakovic selling 178,821 shares, indicating a substantial decrease in their positions.
• Analysts have raised price targets for General Dynamics, with Barclays setting a new target of $350.00, while the current average target price stands at $315.78.

Commonwealth Equity Services LLC lifted its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 175,264 shares of the aerospace company's stock after acquiring an additional 8,976 shares during the period. Commonwealth Equity Services LLC owned approximately 0.07% of General Dynamics worth $47,773,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC lifted its stake in General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 62 shares during the last quarter. Inlight Wealth Management LLC bought a new position in General Dynamics in the 1st quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC bought a new position in General Dynamics in the 1st quarter valued at approximately $27,000. Copia Wealth Management bought a new position in General Dynamics in the 4th quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new position in General Dynamics in the 4th quarter valued at approximately $28,000. Institutional investors own 86.14% of the company's stock.

Insider Transactions at General Dynamics

In other news, Director Leon Rudy F. De sold 5,490 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $312.81, for a total value of $1,717,326.90. Following the transaction, the director owned 5,483 shares of the company's stock, valued at $1,715,137.23. This represents a 50.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction on Friday, June 13th. The stock was 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 directly owned 769,607 shares in the company, valued at $217,898,829.91. The trade was a 18.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 268,370 shares of company stock valued at $78,408,011 in the last quarter. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. TD Securities raised their price target on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Wolfe Research raised shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target for the company in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a "hold" rating to a "buy" rating and raised their price target for the company from $298.00 to $342.00 in a research note on Tuesday, July 8th. Finally, 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. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, General Dynamics currently has a consensus rating of "Hold" and an average target price of $315.78.

General Dynamics Stock Performance

General Dynamics stock opened at $312.62 on Tuesday. The firm's 50 day simple moving average is $291.81 and its 200 day simple moving average is $274.29. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $84.09 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.90 and a beta of 0.48. 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 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 business 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 revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.26 EPS. As a group, analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. General Dynamics's dividend payout ratio is presently 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.

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