Verity Asset Management Inc. Purchases 1,527 Shares of General Dynamics Corporation (NYSE:GD)

Verity Asset Management Inc. lifted its position in General Dynamics Corporation (NYSE:GD - Free Report) by 84.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,336 shares of the aerospace company's stock after purchasing an additional 1,527 shares during the period. Verity Asset Management Inc.'s holdings in General Dynamics were worth $909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GD. Rialto Wealth Management LLC raised its position 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 buying an additional 62 shares during the last quarter. Inlight Wealth Management LLC bought a new stake in General Dynamics in the 1st quarter valued at $26,000. Whipplewood Advisors LLC purchased a new stake in General Dynamics in the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Dynamics during the 4th quarter valued at about $26,000. Finally, Copia Wealth Management purchased a new position in shares of General Dynamics during the fourth quarter valued at about $27,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Trading Up 0.4%

Shares of GD traded up $1.24 during trading hours on Monday, reaching $291.98. 1,184,085 shares of the company traded hands, compared to its average volume of 1,396,633. The stock's fifty day moving average price is $276.55 and its 200 day moving average price is $267.09. 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 firm has a market cap of $78.37 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.96 and a beta of 0.46. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 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 13.9% compared to the same quarter last year. During the same period last year, the company posted $2.88 earnings per share. Sell-side analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Susquehanna raised their price target on General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a report on Wednesday, April 2nd. Morgan Stanley cut 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. Wells Fargo & Company decreased their price target on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Cowen reissued a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Finally, TD Cowen boosted their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $290.24.

Insider Activity

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $283.13, for a total value of $50,629,589.73. Following the completion of the transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at $217,898,829.91. The trade was a 18.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.50% of the company's stock.

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.