Professional Advisory Services Inc. Grows Position in General Dynamics Co. (NYSE:GD)

Professional Advisory Services Inc. lifted its holdings in shares of General Dynamics Co. (NYSE:GD - Free Report) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,929 shares of the aerospace company's stock after buying an additional 3,720 shares during the period. General Dynamics makes up 3.1% of Professional Advisory Services Inc.'s portfolio, making the stock its 14th biggest position. Professional Advisory Services Inc.'s holdings in General Dynamics were worth $22,332,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. KMG Fiduciary Partners LLC boosted its position in shares of General Dynamics by 4.6% during the first quarter. KMG Fiduciary Partners LLC now owns 17,652 shares of the aerospace company's stock valued at $4,811,000 after buying an additional 772 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in General Dynamics by 3.7% in the first quarter. Miracle Mile Advisors LLC now owns 2,605 shares of the aerospace company's stock worth $710,000 after purchasing an additional 92 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in General Dynamics by 12.1% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,266 shares of the aerospace company's stock worth $1,163,000 after purchasing an additional 461 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in General Dynamics by 8.1% in the first quarter. Revolve Wealth Partners LLC now owns 857 shares of the aerospace company's stock worth $234,000 after purchasing an additional 64 shares during the last quarter. Finally, Perennial Advisors LLC boosted its position in General Dynamics by 1.6% in the first quarter. Perennial Advisors LLC now owns 24,733 shares of the aerospace company's stock worth $6,742,000 after purchasing an additional 384 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley dropped 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. William Blair cut General Dynamics from an "outperform" rating to a "market perform" rating in a research report on Friday, February 21st. TD Securities raised their target price on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. BTIG Research cut General Dynamics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 13th. Finally, Argus set a $295.00 target price on General Dynamics in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $293.00.

Insider Buying and Selling

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the sale, the senior vice president now directly owns 45,192 shares of the company's stock, valued at $12,297,195.12. This represents a 37.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by insiders.

General Dynamics Stock Up 0.7%

NYSE GD opened at $276.43 on Friday. The stock's 50 day moving average is $272.69 and its 200 day moving average is $266.62. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12 month low of $239.20 and a 12 month high of $316.90. The stock has a market cap of $74.19 billion, a PE ratio of 20.27, a P/E/G ratio of 1.69 and a beta of 0.49.

General Dynamics (NYSE:GD - Get Free Report) last posted 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. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The company had revenue of $12.22 billion for the quarter, compared to analysts' expectations of $11.92 billion. During the same period in the previous year, the firm earned $2.88 EPS. The firm's revenue was up 13.9% compared to the same quarter last year. Research analysts predict that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

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 dividend on an annualized basis and a yield of 2.17%. General Dynamics's dividend payout ratio is presently 41.61%.

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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