LPL Financial LLC boosted its position in General Dynamics Corporation (NYSE:GD - Free Report) by 12.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,507 shares of the aerospace company's stock after buying an additional 53,274 shares during the period. LPL Financial LLC owned approximately 0.18% of General Dynamics worth $135,338,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GD. Rialto Wealth Management LLC increased its holdings 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 purchasing an additional 62 shares in the last quarter. Inlight Wealth Management LLC bought a new stake in General Dynamics during the 1st quarter worth approximately $26,000. Copia Wealth Management bought a new stake in General Dynamics during the 4th quarter worth approximately $27,000. Smallwood Wealth Investment Management LLC bought a new stake in General Dynamics during the 1st quarter worth approximately $27,000. Finally, Hoey Investments Inc. purchased a new position in shares of General Dynamics in the 4th quarter worth approximately $28,000. 86.14% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on GD. Robert W. Baird boosted their target price on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Susquehanna boosted their target price on General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Wolfe Research upgraded General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 target price on the stock in a research note on Thursday, July 24th. Citigroup boosted their target price on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, TD Cowen boosted their target price on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $312.17.
View Our Latest Research Report on General Dynamics
Insider Buying and Selling at General Dynamics
In other news, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction 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 transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.50% of the company's stock.
General Dynamics Trading Down 0.3%
Shares of GD stock opened at $313.08 on Tuesday. The company's fifty day simple moving average is $288.30 and its two-hundred day simple moving average is $272.68. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $322.50. The stock has a market capitalization of $84.22 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.98 and a beta of 0.46.
General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business had revenue of $13.04 billion for the quarter, compared to analysts' expectations of $12.13 billion. During the same quarter in the previous year, the firm posted $3.26 EPS. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.
General Dynamics Announces Dividend
The company 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 1.92%. General Dynamics's payout ratio is currently 40.27%.
General Dynamics Profile
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Free Report)
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.
Further Reading

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