Greenleaf Trust Buys 885 Shares of General Dynamics Corporation (NYSE:GD)

Greenleaf Trust increased its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 16.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,294 shares of the aerospace company's stock after purchasing an additional 885 shares during the quarter. Greenleaf Trust's holdings in General Dynamics were worth $1,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. 1858 Wealth Management LLC grew its stake in shares of General Dynamics by 1.2% in the first quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock worth $879,000 after purchasing an additional 38 shares during the last quarter. Keystone Financial Services grew its stake in shares of General Dynamics by 1.6% in the first quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock worth $660,000 after purchasing an additional 38 shares during the last quarter. Pure Financial Advisors LLC grew its stake in shares of General Dynamics by 0.7% in the first quarter. Pure Financial Advisors LLC now owns 6,025 shares of the aerospace company's stock worth $1,642,000 after purchasing an additional 39 shares during the last quarter. Thrive Wealth Management LLC grew its stake in shares of General Dynamics by 2.1% in the first quarter. Thrive Wealth Management LLC now owns 2,002 shares of the aerospace company's stock worth $546,000 after purchasing an additional 41 shares during the last quarter. Finally, Austin Wealth Management LLC grew its stake in shares of General Dynamics by 5.4% in the fourth quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company's stock worth $220,000 after purchasing an additional 42 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

GD stock opened at $299.72 on Thursday. The firm has a 50 day moving average price of $280.27 and a 200-day moving average price of $268.78. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $316.90. The firm has a market capitalization of $80.44 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.99 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.23. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.88 earnings per share. Equities research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) is currently 41.61%.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the completion of the sale, the chief executive officer owned 769,607 shares of the company's stock, valued at $215,828,587.08. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group raised their price objective on shares of General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Morgan Stanley lowered their price objective 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 restated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. TD Securities raised their price objective on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, TD Cowen raised their price objective 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, thirteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $294.47.

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.

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