Seamount Financial Group Inc. Invests $230,000 in General Dynamics Corporation (NYSE:GD)

Seamount Financial Group Inc. acquired a new position in General Dynamics Corporation (NYSE:GD - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 844 shares of the aerospace company's stock, valued at approximately $230,000.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of General Dynamics by 34,578.2% during the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock valued at $339,253,000 after acquiring an additional 1,241,011 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of General Dynamics in the 4th quarter valued at about $279,582,000. Vanguard Group Inc. grew its holdings in shares of General Dynamics by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock valued at $6,265,813,000 after acquiring an additional 706,317 shares in the last quarter. Capital Research Global Investors grew its holdings 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 valued at $1,774,381,000 after acquiring an additional 463,497 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in General Dynamics by 6,387.2% during the fourth quarter. Voloridge Investment Management LLC now owns 401,236 shares of the aerospace company's stock worth $105,722,000 after purchasing an additional 395,051 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

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

General Dynamics Trading Down 0.4%

NYSE:GD traded down $1.18 during mid-day trading on Friday, reaching $302.20. The company's stock had a trading volume of 952,540 shares, compared to its average volume of 1,399,583. The company's fifty day simple moving average is $280.90 and its two-hundred day simple moving average is $269.04. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $316.90. The stock has a market cap of $81.11 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.02 and a beta of 0.46.

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

General Dynamics Announces Dividend

The firm 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 dividend of $1.50 per share. 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 1.99%. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price objective 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. Susquehanna boosted their target price on shares of General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research note on Wednesday, April 2nd. Jefferies Financial Group set a $325.00 price objective on shares of General Dynamics and gave the stock a "hold" rating in a research note on Wednesday. TD Securities boosted their target price on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Argus set a $295.00 price objective on shares of General Dynamics in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $294.47.

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.