Global Wealth Management Investment Advisory Inc. Buys 1,704 Shares of General Dynamics Corporation (NYSE:GD)

Global Wealth Management Investment Advisory Inc. grew its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,522 shares of the aerospace company's stock after purchasing an additional 1,704 shares during the quarter. Global Wealth Management Investment Advisory Inc.'s holdings in General Dynamics were worth $4,504,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Renasant Bank increased its stake in shares of General Dynamics by 46.8% in the fourth quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock valued at $858,000 after purchasing an additional 1,038 shares during the period. Advisory Resource Group boosted its position in General Dynamics by 7.1% during the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock worth $5,234,000 after acquiring an additional 1,276 shares during the period. Retirement Guys Formula LLC purchased a new position in shares of General Dynamics during the 1st quarter valued at $1,692,000. Quantbot Technologies LP increased its holdings in General Dynamics by 990.0% in the fourth quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company's stock worth $17,537,000 after buying an additional 60,451 shares during the last quarter. Finally, Independent Advisor Alliance raised its holdings in General Dynamics by 4.1% during the fourth quarter. Independent Advisor Alliance now owns 24,328 shares of the aerospace company's stock valued at $6,410,000 after buying an additional 955 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was 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 directly owned 769,607 shares in the company, valued at $217,898,829.91. This trade represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Susquehanna raised their target price on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company lowered 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 report on Tuesday, April 8th. Argus set a $295.00 target price on General Dynamics in a research report on Tuesday, May 6th. TD Cowen increased their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Citigroup reduced their price objective on General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of "Hold" and a consensus target price of $290.24.

General Dynamics Trading Up 0.0%

Shares of NYSE GD traded up $0.08 during midday trading on Friday, reaching $294.00. 646,635 shares of the stock were exchanged, compared to its average volume of 1,395,994. The business has a 50-day simple moving average of $278.32 and a two-hundred day simple moving average of $267.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. The company has a market capitalization of $78.91 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.98 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 quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter in the prior year, the firm earned $2.88 earnings per share. The firm's revenue was up 13.9% compared to the same quarter last year. As a group, equities research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's dividend payout ratio is presently 41.61%.

General Dynamics 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.