General Dynamics Corporation (NYSE:GD) Shares Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC raised its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 41.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,719 shares of the aerospace company's stock after purchasing an additional 1,083 shares during the quarter. Sagespring Wealth Partners LLC's holdings in General Dynamics were worth $1,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GD. Sowell Financial Services LLC acquired a new position in shares of General Dynamics during the 1st quarter worth about $862,000. Mission Wealth Management LP raised its holdings in shares of General Dynamics by 18.9% in the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock valued at $4,401,000 after purchasing an additional 2,568 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its position in General Dynamics by 3.9% during the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,666 shares of the aerospace company's stock worth $454,000 after purchasing an additional 63 shares during the period. Brown Miller Wealth Management LLC lifted its holdings in General Dynamics by 51.0% during the 1st quarter. Brown Miller Wealth Management LLC now owns 8,708 shares of the aerospace company's stock worth $2,374,000 after purchasing an additional 2,941 shares during the last quarter. Finally, Pflug Koory LLC raised its position in shares of General Dynamics by 3.4% in the first quarter. Pflug Koory LLC now owns 1,975 shares of the aerospace company's stock valued at $538,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Stock Down 1.0%

Shares of NYSE GD traded down $2.95 during mid-day trading on Wednesday, reaching $278.35. 731,756 shares of the company were exchanged, compared to its average volume of 1,385,167. The firm has a 50-day moving average of $275.30 and a 200 day moving average of $266.48. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. The stock has a market cap of $74.71 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.88 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same period in the prior year, the firm posted $2.88 earnings per share. The business's quarterly revenue was up 13.9% on a year-over-year basis. On average, research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid 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 2.16%. General Dynamics's dividend payout ratio (DPR) is 41.61%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the sale, the chief executive officer now directly owns 769,607 shares of the company's stock, valued at approximately $217,898,829.91. This trade represents a 18.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

GD has been the subject of several research analyst reports. Morgan Stanley lowered their price target on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Citigroup lowered their target price on General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a report on Thursday, April 10th. William Blair lowered General Dynamics from an "outperform" rating to a "market perform" rating in a research note on Friday, February 21st. TD Securities raised their price target on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Cowen reissued a "buy" rating on shares of General Dynamics in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $293.00.

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.