Harel Insurance Investments & Financial Services Ltd. Has $7.66 Million Stock Holdings in General Dynamics Corporation (NYSE:GD)

Harel Insurance Investments & Financial Services Ltd. increased its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 35.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,103 shares of the aerospace company's stock after purchasing an additional 7,333 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in General Dynamics were worth $7,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC grew its position in General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares during the period. Inlight Wealth Management LLC acquired a new stake in shares of General Dynamics during the 1st quarter worth about $26,000. Copia Wealth Management bought a new position in General Dynamics during the 4th quarter valued at about $27,000. Smallwood Wealth Investment Management LLC acquired a new position in General Dynamics in the first quarter valued at about $27,000. Finally, Hoey Investments Inc. bought a new stake in General Dynamics during the fourth quarter worth about $28,000. Institutional investors own 86.14% of the company's stock.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GD shares. TD Cowen lifted their target price on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Morgan Stanley reduced their price objective on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Susquehanna raised their target price on General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research note on Wednesday, April 2nd. Cowen restated a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. Finally, TD Securities upped their target price on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of "Hold" and a consensus target price of $290.24.

General Dynamics Stock Up 0.0%

Shares of NYSE:GD opened at $294.00 on Friday. The company has a 50 day moving average price of $278.32 and a two-hundred day moving average price of $267.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. The company has a market capitalization of $78.91 billion, a PE ratio of 20.39, a PEG ratio of 1.98 and a beta of 0.46. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter last year, the business posted $2.88 EPS. The firm's revenue was up 13.9% compared to the same quarter last year. Analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) 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.

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