Croban Invests $1.25 Million in General Dynamics Corporation (NYSE:GD)

Croban acquired a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,586 shares of the aerospace company's stock, valued at approximately $1,250,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GD. Rialto Wealth Management LLC boosted its holdings 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 in the last quarter. Inlight Wealth Management LLC acquired a new stake in shares of General Dynamics in the first quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Dynamics in the first quarter valued at approximately $27,000. Copia Wealth Management acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $27,000. Finally, Hoey Investments Inc. acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $28,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Up 1.1%

Shares of NYSE:GD opened at $303.34 on Friday. The stock's 50-day moving average price is $280.90 and its two-hundred day moving average price is $269.04. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $316.90. The firm has a market cap of $81.42 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.02 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business posted $2.88 EPS. On average, research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 1.98%. General Dynamics's payout ratio is currently 41.61%.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the sale, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GD. UBS Group increased their price objective on General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Citigroup cut their price target on General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Argus set a $295.00 price objective on General Dynamics in a research report on Tuesday, May 6th. Susquehanna increased their price objective on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company cut their price objective on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, General Dynamics presently has a consensus rating of "Hold" and a consensus price target of $294.47.

About General Dynamics

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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