D.A. Davidson & CO. Increases Stock Position in General Dynamics Corporation (NYSE:GD)

D.A. Davidson & CO. lifted its position in General Dynamics Corporation (NYSE:GD - Free Report) by 4.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,573 shares of the aerospace company's stock after purchasing an additional 3,612 shares during the quarter. D.A. Davidson & CO.'s holdings in General Dynamics were worth $21,417,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Rialto Wealth Management LLC boosted its position in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in General Dynamics during the fourth quarter valued at $26,000. Inlight Wealth Management LLC bought a new position in General Dynamics during the first quarter valued at $26,000. Copia Wealth Management purchased a new position in General Dynamics in the fourth quarter worth about $27,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in General Dynamics during the first quarter worth approximately $27,000. 86.14% of the stock is owned by institutional investors.

Insider Transactions at General Dynamics

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 completion of the sale, the chief executive officer owned 769,607 shares of the company's stock, valued at approximately $215,828,587.08. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

GD has been the subject of several analyst reports. Citigroup lowered their price objective 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. TD Securities raised their price target on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. TD Cowen boosted their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. UBS Group raised their target price on shares of General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Argus set a $295.00 price target on shares of General Dynamics in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, General Dynamics has a consensus rating of "Hold" and a consensus price target of $290.24.

General Dynamics Price Performance

General Dynamics stock traded up $0.08 during trading on Friday, reaching $294.00. The company had a trading volume of 646,635 shares, compared to its average volume of 1,395,994. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. The firm's 50-day simple moving average is $278.32 and its 200 day simple moving average is $267.85. The firm has a market capitalization of $78.91 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.98 and a beta of 0.46. 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 released its earnings results 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 business had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.88 earnings per share. As a group, equities research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's payout ratio is 41.61%.

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.