General Dynamics Corporation $GD Shares Sold by Parr Mcknight Wealth Management Group LLC

Key Points

• Parr Mcknight Wealth Management Group cut its General Dynamics stake by 22.5% in Q1, selling 2,919 shares and leaving it with 10,059 shares valued at about $3.45 million.
• General Dynamics reported strong quarterly results, posting EPS of $4.10 versus the $3.67 consensus and revenue of $13.48 billion, up 10.3% year over year.
• Insider selling has been notable, with directors and executives selling 78,190 shares worth about $27.0 million over the last 90 days, even as analysts maintain a Moderate Buy consensus and average price target of $391.15.

Parr Mcknight Wealth Management Group LLC trimmed its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 22.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,059 shares of the aerospace company's stock after selling 2,919 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in General Dynamics were worth $3,453,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in General Dynamics by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company's stock worth $8,338,169,000 after acquiring an additional 528,769 shares in the last quarter. Jain Global LLC grew its position in General Dynamics by 97.8% during the third quarter. Jain Global LLC now owns 169,305 shares of the aerospace company's stock worth $57,733,000 after buying an additional 83,692 shares during the period. M&T Bank Corp lifted its position in shares of General Dynamics by 155.6% during the 4th quarter. M&T Bank Corp now owns 104,773 shares of the aerospace company's stock valued at $35,273,000 after acquiring an additional 63,781 shares during the period. Financial Planning Hawaii Inc. acquired a new stake in shares of General Dynamics in the 4th quarter worth approximately $1,103,000. Finally, Jefferies Financial Group Inc. purchased a new position in General Dynamics in the 4th quarter valued at approximately $7,914,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GD has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on General Dynamics from $410.00 to $435.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of General Dynamics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $385.00 target price on shares of General Dynamics in a research note on Thursday, April 30th. Wells Fargo & Company began coverage on General Dynamics in a research report on Wednesday, April 1st. They set an "overweight" rating and a $400.00 price target for the company. Finally, BNP Paribas Exane decreased their price objective on General Dynamics from $430.00 to $390.00 and set an "outperform" rating on the stock in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, General Dynamics presently has a consensus rating of "Moderate Buy" and an average target price of $391.15.

Insiders Place Their Bets

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director owned 10,643 shares of the company's stock, valued at approximately $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the sale, the executive vice president owned 38,975 shares of the company's stock, valued at $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 78,190 shares of company stock valued at $27,041,022. Insiders own 1.40% of the company's stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $374.51 on Monday. The business has a fifty day simple moving average of $350.54 and a 200-day simple moving average of $349.66. General Dynamics Corporation has a 52 week low of $293.95 and a 52 week high of $380.71. The company has a market cap of $101.28 billion, a P/E ratio of 23.57, a P/E/G ratio of 2.26 and a beta of 0.34. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion during the quarter, compared to analysts' expectations of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm's revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.66 EPS. Equities research analysts forecast that General Dynamics Corporation will post 16.64 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, July 2nd. General Dynamics's dividend payout ratio (DPR) is 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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