Atria Wealth Solutions Inc. Has $7.73 Million Holdings in General Dynamics Corporation (NYSE:GD)

Key Points

• Atria Wealth Solutions Inc. increased its stake in General Dynamics Corporation by 4.9%, owning a total of 28,369 shares valued at $7.73 million as of the latest quarter.
• Insider trading activity revealed that CEO Phebe N. Novakovic sold 7,639 shares, while Director Leon Rudy F. De sold 5,490 shares, indicating a notable shift in their ownership positions.
• Analysts have set a consensus price target of $315.78 for General Dynamics, with varying ratings from buy to sell based on recent reports.

Atria Wealth Solutions Inc. increased its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,369 shares of the aerospace company's stock after buying an additional 1,337 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in General Dynamics were worth $7,733,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new stake in General Dynamics in the 1st quarter valued at approximately $65,000. Cary Street Partners Financial LLC raised its position in shares of General Dynamics by 48.7% during the 1st quarter. Cary Street Partners Financial LLC now owns 25,544 shares of the aerospace company's stock worth $6,963,000 after buying an additional 8,367 shares in the last quarter. Advyzon Investment Management LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth approximately $231,000. New Age Alpha Advisors LLC boosted its holdings in shares of General Dynamics by 3.7% in the first quarter. New Age Alpha Advisors LLC now owns 3,819 shares of the aerospace company's stock valued at $1,041,000 after acquiring an additional 137 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of General Dynamics by 25.0% during the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 23,250 shares of the aerospace company's stock valued at $6,337,000 after acquiring an additional 4,650 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays lifted their price target on General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Morgan Stanley reduced their target price on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. UBS Group increased their price objective on General Dynamics from $309.00 to $333.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the stock a "hold" rating in a research report on Wednesday, July 9th. One investment 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $315.78.

Insider Activity at General Dynamics

In other General Dynamics news, Director Leon Rudy F. De sold 5,490 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.81, for a total value of $1,717,326.90. Following the completion of the sale, the director directly owned 5,483 shares of the company's stock, valued at $1,715,137.23. The trade was a 50.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Lagrand Burns sold 43,860 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the transaction, the executive vice president directly owned 39,875 shares in the company, valued at $12,452,165. The trade was a 52.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 268,370 shares of company stock valued at $78,408,011. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Stock Up 0.4%

GD traded up $1.25 on Friday, reaching $313.98. 1,157,284 shares of the company traded hands, compared to its average volume of 1,263,103. The stock's 50 day moving average price is $294.07 and its 200-day moving average price is $275.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $322.50. The company has a market cap of $84.46 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.92 and a beta of 0.48.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. During the same quarter last year, the firm earned $3.26 earnings per share. The business's revenue for the quarter was up 8.9% on a year-over-year basis. On average, sell-side analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is presently 40.27%.

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.