Croban Makes New Investment in General Dynamics Corporation (NYSE:GD)

Croban bought a new position in General Dynamics Corporation (NYSE:GD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,586 shares of the aerospace company's stock, valued at approximately $1,250,000.

Several other large investors have also made changes to their positions in GD. Rialto Wealth Management LLC raised its position in General Dynamics by 213.8% in the first 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 period. Inlight Wealth Management LLC purchased a new stake in shares of General Dynamics during the first quarter worth about $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Dynamics during the first quarter worth about $27,000. Copia Wealth Management purchased a new stake in shares of General Dynamics during the fourth quarter worth about $27,000. Finally, Hoey Investments Inc. purchased a new stake in shares of General Dynamics during the fourth quarter worth about $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GD shares. TD Cowen lifted their target price on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. TD Securities lifted their target price on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. UBS Group lifted their target price on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, Susquehanna lifted their target price on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $294.47.

Insiders Place Their Bets

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 769,607 shares of the company's stock, valued at $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by insiders.

General Dynamics Stock Performance

Shares of GD traded down $1.18 during trading hours on Friday, reaching $302.20. 952,540 shares of the company traded hands, compared to its average volume of 1,399,583. The stock's fifty day moving average is $280.90 and its 200 day moving average is $269.04. The stock has a market cap of $81.11 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 2.02 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. The business 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 for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.88 earnings per share. Equities research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid 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 yield of 1.99%. General Dynamics's payout ratio is currently 41.61%.

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.