HB Wealth Management LLC Buys 6,336 Shares of General Dynamics Corporation (NYSE:GD)

Key Points

• HB Wealth Management LLC increased its stake in General Dynamics by 19.4%, owning 38,979 shares valued at approximately $10.6 million at the end of the recent quarter.
• Several hedge funds have significantly boosted their positions in General Dynamics, with GAMMA Investing LLC increasing holdings by a staggering 34,578.2% during the first quarter.
• General Dynamics announced a quarterly dividend of $1.50 per share, yielding 1.91%, which will be payable to stockholders on August 8th.

HB Wealth Management LLC grew its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 19.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,979 shares of the aerospace company's stock after purchasing an additional 6,336 shares during the quarter. HB Wealth Management LLC's holdings in General Dynamics were worth $10,625,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Rialto Wealth Management LLC boosted its stake in General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after acquiring an additional 62 shares during the last quarter. Inlight Wealth Management LLC acquired a new stake in General Dynamics in the 1st quarter valued at about $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in General Dynamics during the 1st quarter valued at $27,000. Copia Wealth Management acquired a new stake in General Dynamics during the 4th quarter valued at $27,000. Finally, Hoey Investments Inc. bought a new position in General Dynamics during the 4th quarter worth $28,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Argus set a $295.00 target price on General Dynamics in a report on Tuesday, May 6th. Robert W. Baird raised their target price on shares of General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Wolfe Research raised General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price for the company in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their target price on General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a 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 report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $315.78.

General Dynamics Stock Performance

Shares of GD stock traded down $1.97 during trading hours on Wednesday, hitting $312.73. 240,864 shares of the company were exchanged, compared to its average volume of 1,484,139. The firm has a fifty day simple moving average of $288.97 and a 200 day simple moving average of $272.97. The stock has a market capitalization of $84.12 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 1.92 and a beta of 0.46. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $322.50. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, topping the consensus estimate of $3.47 by $0.27. The company had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. General Dynamics's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $3.26 EPS. Research analysts predict that General Dynamics Corporation will post 14.83 earnings per share 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. Shareholders of record on Thursday, July 3rd will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, July 3rd. General Dynamics's payout ratio is 40.27%.

Insider Buying and Selling at General Dynamics

In related news, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction on Monday, July 28th. The shares were sold at an average price of $312.28, for a total value of $13,696,600.80. Following the transaction, the executive vice president owned 39,875 shares in the company, valued at $12,452,165. This trade represents a 52.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leon Rudy F. De sold 5,490 shares of General Dynamics stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the completion of the transaction, the director owned 5,483 shares in the company, valued at approximately $1,715,137.23. The trade was a 50.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 268,370 shares of company stock valued at $78,408,011 in the last three months. Company 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.