Marks Group Wealth Management Inc Buys 4,836 Shares of General Dynamics Corporation (NYSE:GD)

Marks Group Wealth Management Inc increased its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 18.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,620 shares of the aerospace company's stock after purchasing an additional 4,836 shares during the period. Marks Group Wealth Management Inc's holdings in General Dynamics were worth $8,619,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC raised its position in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 62 shares during the period. Inlight Wealth Management LLC bought a new stake in shares of General Dynamics during the 1st quarter valued at $26,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of General Dynamics during the 1st quarter valued at $27,000. Copia Wealth Management bought a new stake in shares of General Dynamics during the 4th quarter valued at $27,000. Finally, Hoey Investments Inc. bought a new stake in shares of General Dynamics during the 4th quarter valued at $28,000. 86.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 7,639 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the sale, the chief executive officer owned 769,607 shares in the company, valued at approximately $215,828,587.08. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

GD has been the subject of several research analyst reports. Morgan Stanley cut their target price on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Argus set a $295.00 target price on shares of General Dynamics in a research note on Tuesday, May 6th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. TD Cowen raised 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. Finally, Wells Fargo & Company cut their target price on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $294.47.

General Dynamics Trading Down 0.4%

Shares of General Dynamics stock traded down $1.18 during trading on Friday, hitting $302.20. The stock had a trading volume of 952,540 shares, compared to its average volume of 1,400,899. The firm's fifty day simple moving average is $281.48 and its 200-day simple moving average is $269.32. The stock has a market cap of $81.11 billion, a PE ratio of 20.96, a PEG ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. 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 released its earnings results 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. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The business's revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business earned $2.88 EPS. As a group, sell-side analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced 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 1.99%. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

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.