Nations Financial Group Inc. IA ADV Reduces Stake in General Dynamics Corporation (NYSE:GD)

Key Points

• Nations Financial Group Inc. IA ADV has reduced its stake in General Dynamics Corporation by 20.8%, now holding 8,993 shares worth approximately $2.45 million.
• General Dynamics announced a quarterly dividend of $1.50 per share, representing an annualized return of 1.9% for shareholders.
• The company's recent earnings report showed $13.04 billion in revenue, exceeding expectations, with a total earnings per share (EPS) of $3.74.

Nations Financial Group Inc. IA ADV reduced its position in General Dynamics Corporation (NYSE:GD - Free Report) by 20.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,993 shares of the aerospace company's stock after selling 2,368 shares during the period. Nations Financial Group Inc. IA ADV's holdings in General Dynamics were worth $2,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors boosted its stake in shares of General Dynamics by 7.4% in the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock worth $1,774,381,000 after buying an additional 463,497 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of General Dynamics by 4.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock worth $1,499,819,000 after buying an additional 256,687 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of General Dynamics by 5.2% in the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock worth $773,355,000 after buying an additional 145,978 shares during the last quarter. Northern Trust Corp lifted its position in General Dynamics by 4.2% during the fourth quarter. Northern Trust Corp now owns 2,606,137 shares of the aerospace company's stock valued at $686,691,000 after purchasing an additional 103,870 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in General Dynamics by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock valued at $431,327,000 after purchasing an additional 5,313 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Trading Down 0.7%

Shares of GD stock opened at $313.70 on Friday. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month 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. The stock's 50-day moving average price is $298.76 and its 200-day moving average price is $277.12. The stock has a market capitalization of $84.38 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 1.94 and a beta of 0.48.

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, topping the consensus estimate of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The firm had revenue of $13.04 billion for the quarter, compared to analysts' expectations of $12.13 billion. During the same period in the previous year, the firm posted $3.26 earnings per share. The business's revenue was up 8.9% compared to the same quarter last year. Equities research analysts predict 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, November 14th. Stockholders of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's payout ratio is 40.27%.

Insider Transactions at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 43,860 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the sale, the executive vice president directly owned 39,875 shares of the company's stock, valued at $12,452,165. The trade was a 52.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the sale, the executive vice president directly owned 45,192 shares in the company, valued at $14,244,518.40. The trade was a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,110 shares of company stock valued at $89,042,859. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Citigroup lifted their target price on General Dynamics from $348.00 to $368.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Morgan Stanley lowered their target price on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their target price on General Dynamics from $284.00 to $345.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. TD Cowen lifted their target price on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and lifted their target price for the company from $298.00 to $342.00 in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $315.78.

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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