Fiduciary Wealth Partners LLC Purchases Shares of 1,190 General Dynamics Corporation (NYSE:GD)

Key Points

• Fiduciary Wealth Partners LLC has acquired 1,190 shares of General Dynamics, valued at approximately $324,000, marking it as the firm's 22nd largest holding.
• General Dynamics reported earnings of $3.74 per share, exceeding analysts' expectations and reflecting an 8.9% revenue increase year over year.
• The company has declared a quarterly dividend of $1.50 per share, resulting in an annualized yield of 1.9%.

Fiduciary Wealth Partners LLC purchased a new stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,190 shares of the aerospace company's stock, valued at approximately $324,000. General Dynamics accounts for approximately 0.3% of Fiduciary Wealth Partners LLC's holdings, making the stock its 22nd largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC increased its holdings in shares of General Dynamics by 213.8% during the first 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 in the last quarter. Inlight Wealth Management LLC bought a new stake in General Dynamics in the 1st quarter worth about $26,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of General Dynamics during the 1st quarter valued at about $27,000. Copia Wealth Management purchased a new position in shares of General Dynamics during the 4th quarter valued at about $27,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

GD opened at $310.45 on Friday. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $322.50. 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 business's fifty day simple moving average is $291.05 and its 200-day simple moving average is $273.88. The company has a market capitalization of $83.51 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.91 and a beta of 0.48.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The business had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter in the prior year, the company earned $3.26 EPS. The business's revenue was up 8.9% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. General Dynamics's dividend payout ratio (DPR) is 40.27%.

Analyst Ratings Changes

A number of research firms recently commented on GD. UBS Group boosted their price target on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Sanford C. Bernstein set a $314.00 target price on General Dynamics and gave the company a "market perform" rating in a research report on Monday, July 14th. Wolfe Research raised General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price on the stock in a research report on Thursday, July 24th. Finally, TD Securities boosted their target price on General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, General Dynamics presently has an average rating of "Hold" and an average price target of $315.78.

Insider Buying and Selling at General Dynamics

In other news, Director Leon Rudy F. De sold 5,490 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $312.81, for a total value of $1,717,326.90. Following the completion of the transaction, the director directly owned 5,483 shares in the company, valued at $1,715,137.23. This trade represents a 50.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $2,142,281.16. Following the completion of the transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at approximately $215,828,587.08. The trade was a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 268,370 shares of company stock worth $78,408,011. 1.50% of the stock is owned by insiders.

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.

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