Gallacher Capital Management LLC Acquires New Position in General Dynamics Corporation (NYSE:GD)

Gallacher Capital Management LLC acquired a new stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,063 shares of the aerospace company's stock, valued at approximately $562,000.

Several other large investors have also recently added to or reduced their stakes in GD. Brighton Jones LLC raised its holdings in shares of General Dynamics by 16.9% in the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock worth $760,000 after buying an additional 417 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of General Dynamics during the 4th quarter worth about $696,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of General Dynamics by 134.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,648 shares of the aerospace company's stock worth $434,000 after purchasing an additional 945 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of General Dynamics during the 4th quarter worth about $33,000. Finally, Virtu Financial LLC increased its holdings in shares of General Dynamics by 59.1% during the fourth quarter. Virtu Financial LLC now owns 2,929 shares of the aerospace company's stock worth $772,000 after buying an additional 1,088 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Buying and Selling at General Dynamics

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the transaction, the chief executive officer owned 769,607 shares in the company, valued at approximately $217,898,829.91. This trade represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by insiders.

General Dynamics Stock Down 0.3%

Shares of General Dynamics stock traded down $0.90 on Thursday, reaching $316.04. 623,287 shares of the company were exchanged, compared to its average volume of 1,492,547. General Dynamics Corporation has a one year low of $239.20 and a one year high of $322.50. The company has a market capitalization of $84.82 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.98 and a beta of 0.46. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average of $286.29 and a 200 day moving average of $271.39.

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 the consensus estimate of $3.47 by $0.27. The firm had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 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 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.26 earnings per share. On average, equities research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, July 3rd. General Dynamics's payout ratio is presently 41.61%.

Analyst Ratings Changes

GD has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price objective on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Citigroup raised their price target on General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a report on Thursday. Cowen restated a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Morgan Stanley lowered their target price on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research note 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, twelve have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $309.17.

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.