Edgemoor Investment Advisors Inc. Boosts Stake in General Dynamics Corporation (NYSE:GD)

Edgemoor Investment Advisors Inc. boosted its position in General Dynamics Corporation (NYSE:GD - Free Report) by 2.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,090 shares of the aerospace company's stock after buying an additional 1,126 shares during the quarter. General Dynamics makes up about 1.5% of Edgemoor Investment Advisors Inc.'s holdings, making the stock its 20th largest position. Edgemoor Investment Advisors Inc.'s holdings in General Dynamics were worth $15,834,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Retirement Guys Formula LLC purchased a new stake in General Dynamics in the first quarter valued at approximately $1,692,000. Advisory Resource Group grew its stake in shares of General Dynamics by 7.1% during the first quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock valued at $5,234,000 after buying an additional 1,276 shares during the last quarter. Mission Wealth Management LP increased its stake in General Dynamics by 18.9% in the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock worth $4,401,000 after purchasing an additional 2,568 shares during the period. Virtu Financial LLC raised its holdings in General Dynamics by 59.1% during the 4th quarter. Virtu Financial LLC now owns 2,929 shares of the aerospace company's stock valued at $772,000 after buying an additional 1,088 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY increased its holdings in General Dynamics by 31.6% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company's stock valued at $9,171,000 after purchasing an additional 8,073 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 769,607 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.50% of the company's stock.

General Dynamics Price Performance

Shares of NYSE GD traded down $0.90 during mid-day trading on Thursday, reaching $316.04. The company's stock had a trading volume of 623,287 shares, compared to its average volume of 1,492,547. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $322.50. 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 stock has a market capitalization of $84.82 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.98 and a beta of 0.46. The stock has a 50-day moving average of $286.29 and a two-hundred day moving average of $271.39.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.27. The company had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.26 earnings per share. On average, equities research analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company 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 dividend of $1.50 per share. 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 1.90%. General Dynamics's payout ratio is 41.61%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GD. Argus set a $295.00 target price on General Dynamics in a research report on Tuesday, May 6th. TD Securities raised their price objective on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a "hold" rating to a "buy" rating and upped their target price for the company from $298.00 to $342.00 in a report on Tuesday, July 8th. Wells Fargo & Company dropped their price target on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Wolfe Research upgraded General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price objective for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $309.17.

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.