Rehmann Capital Advisory Group Buys 4,597 Shares of General Dynamics Corporation (NYSE:GD)

Rehmann Capital Advisory Group grew its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 252.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,416 shares of the aerospace company's stock after purchasing an additional 4,597 shares during the period. Rehmann Capital Advisory Group's holdings in General Dynamics were worth $1,749,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renasant Bank increased its position in shares of General Dynamics by 46.8% in the fourth quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock worth $858,000 after purchasing an additional 1,038 shares during the last quarter. Retirement Guys Formula LLC bought a new position in shares of General Dynamics in the 1st quarter worth $1,692,000. Advisory Resource Group grew its holdings in shares of General Dynamics by 7.1% during the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock valued at $5,234,000 after purchasing an additional 1,276 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of General Dynamics by 990.0% during the fourth quarter. Quantbot Technologies LP now owns 66,557 shares of the aerospace company's stock valued at $17,537,000 after purchasing an additional 60,451 shares during the period. Finally, Virtu Financial LLC boosted its position in General Dynamics by 59.1% during the 4th quarter. Virtu Financial LLC now owns 2,929 shares of the aerospace company's stock valued at $772,000 after buying an additional 1,088 shares during the period. Institutional investors own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GD. TD Cowen raised their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Argus set a $295.00 price target on shares of General Dynamics in a research report on Tuesday, May 6th. Susquehanna lifted their price target 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. Wells Fargo & Company lowered their price target on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group lifted their price target on shares of General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. One 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 MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $294.47.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at $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 is available through this hyperlink. 1.50% of the stock is currently owned by insiders.

General Dynamics Stock Performance

NYSE GD traded down $0.74 during trading hours on Friday, hitting $302.64. 495,408 shares of the company's stock traded hands, compared to its average volume of 1,395,969. The business's fifty day moving average price is $280.90 and its two-hundred day moving average price is $269.04. 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 market capitalization of $81.23 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.02 and a beta of 0.46. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $316.90.

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

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.98%. General Dynamics's payout ratio is currently 41.61%.

About General Dynamics

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.