General Dynamics Corporation $GD Shares Bought by Kingsview Wealth Management LLC

Key Points

• Kingsview Wealth Management LLC more than doubled its stake in General Dynamics in the fourth quarter, buying an additional 10,250 shares for a total of 20,340 shares worth about $6.85 million.
• General Dynamics reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $13.48 billion topping forecasts; revenue also rose 10.3% year over year.
• The company raised its quarterly dividend to $1.59 per share, and the stock was up 1.9% in recent trading, while analysts currently rate it a Moderate Buy with a consensus price target of $387.40.

Kingsview Wealth Management LLC lifted its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 101.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,340 shares of the aerospace company's stock after buying an additional 10,250 shares during the quarter. Kingsview Wealth Management LLC's holdings in General Dynamics were worth $6,848,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GD. Dunhill Financial LLC boosted its stake in General Dynamics by 620.0% in the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of General Dynamics during the third quarter worth about $25,000. Dagco Inc. purchased a new stake in shares of General Dynamics in the 4th quarter valued at about $25,000. Burkett Financial Services LLC lifted its holdings in shares of General Dynamics by 650.0% in the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. Finally, Steph & Co. boosted its position in shares of General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 30 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on GD shares. Weiss Ratings lowered General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, May 19th. UBS Group decreased their price objective on General Dynamics from $385.00 to $371.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. BNP Paribas Exane cut their target price on shares of General Dynamics from $430.00 to $390.00 and set an "outperform" rating on the stock in a report on Thursday, April 30th. Argus upped their price target on shares of General Dynamics from $380.00 to $395.00 and gave the company a "buy" rating in a research report on Thursday, February 19th. Finally, Jefferies Financial Group decreased their price target on shares of General Dynamics from $385.00 to $380.00 and set a "hold" rating for the company in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $387.40.

Insiders Place Their Bets

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the transaction, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Phebe N. Novakovic sold 32,918 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the transaction, the chief executive officer directly owned 766,457 shares of the company's stock, valued at $271,394,759.13. This represents a 4.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 119,600 shares of company stock worth $41,650,580. 1.40% of the stock is owned by insiders.

General Dynamics Stock Up 1.9%

General Dynamics stock opened at $349.13 on Friday. The stock has a 50 day moving average of $341.00 and a two-hundred day moving average of $346.56. General Dynamics Corporation has a twelve month low of $268.10 and a twelve month high of $369.70. The stock has a market capitalization of $94.41 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 2.13 and a beta of 0.34. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the previous year, the company posted $3.66 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, research analysts expect that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were paid a $1.59 dividend. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 annualized dividend and a yield of 1.8%. This is an increase from General Dynamics's previous quarterly dividend of $1.50. General Dynamics's dividend payout ratio is presently 40.03%.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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