Moran Wealth Management LLC Sells 24,995 Shares of General Dynamics Corporation (NYSE:GD)

Moran Wealth Management LLC lessened its position in General Dynamics Corporation (NYSE:GD - Free Report) by 43.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,776 shares of the aerospace company's stock after selling 24,995 shares during the quarter. Moran Wealth Management LLC's holdings in General Dynamics were worth $8,934,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hickory Point Bank & Trust purchased a new position in shares of General Dynamics during the fourth quarter valued at approximately $692,000. Jones Financial Companies Lllp lifted its stake in shares of General Dynamics by 45.4% during the 4th quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company's stock worth $21,228,000 after acquiring an additional 25,144 shares during the last quarter. U S Global Investors Inc. boosted its holdings in General Dynamics by 18.6% during the 4th quarter. U S Global Investors Inc. now owns 79,450 shares of the aerospace company's stock valued at $20,934,000 after acquiring an additional 12,453 shares during the period. Renasant Bank grew its position in General Dynamics by 46.8% in the 4th quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock valued at $858,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in General Dynamics by 990.0% in the fourth quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company's stock worth $17,537,000 after purchasing an additional 60,451 shares during the period. Institutional investors own 86.14% of the company's stock.

Analysts Set New Price Targets

GD has been the subject of a number of recent analyst reports. Cowen reissued a "buy" rating on shares of General Dynamics in a research note on Thursday, April 24th. Susquehanna boosted their price objective on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research report on Wednesday, April 2nd. UBS Group raised their target price on shares of General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Morgan Stanley lowered their price target on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, TD Securities raised their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $293.00.

General Dynamics Trading Down 0.4%

NYSE:GD opened at $281.30 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $275.74 and a 200-day simple moving average of $266.63. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90. The company has a market capitalization of $75.50 billion, a P/E ratio of 19.51, a PEG ratio of 1.90 and a beta of 0.46.

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

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors 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 yield of 2.13%. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 7,639 shares of the company's stock in a transaction on 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 sale, the chief executive officer now directly owns 769,607 shares of the company's stock, valued at approximately $215,828,587.08. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

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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