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Secure Asset Management LLC Acquires 1,648 Shares of General Dynamics Co. (NYSE:GD)

General Dynamics logo with Aerospace background

Secure Asset Management LLC grew its holdings in shares of General Dynamics Co. (NYSE:GD - Free Report) by 26.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,764 shares of the aerospace company's stock after purchasing an additional 1,648 shares during the quarter. Secure Asset Management LLC's holdings in General Dynamics were worth $2,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of General Dynamics by 3.1% in the fourth 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 during the period. Capital Research Global Investors boosted its position in shares of General Dynamics by 7.4% in the fourth 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 during the period. Geode Capital Management LLC boosted its position in shares of General Dynamics by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 5,688,672 shares of the aerospace company's stock valued at $1,496,939,000 after acquiring an additional 131,268 shares during the period. Sanders Capital LLC boosted its position in shares of General Dynamics by 0.8% in the fourth quarter. Sanders Capital LLC now owns 4,212,422 shares of the aerospace company's stock valued at $1,109,931,000 after acquiring an additional 33,962 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of General Dynamics by 5.2% in the fourth quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock valued at $773,355,000 after acquiring an additional 145,978 shares during the period. Institutional investors own 86.14% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on GD. BTIG Research lowered shares of General Dynamics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 13th. Cowen restated a "buy" rating on shares of General Dynamics in a research report on Thursday, April 24th. 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. Morgan Stanley lowered their target price on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, TD Securities raised their target price 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. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Dynamics presently has a consensus rating of "Hold" and an average price target of $293.00.

Get Our Latest Stock Analysis on GD

Insider Activity at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the sale, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. The trade was a 37.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by company insiders.

General Dynamics Trading Up 0.7%

Shares of NYSE GD traded up $2.01 during mid-day trading on Friday, hitting $276.43. The stock had a trading volume of 647,047 shares, compared to its average volume of 1,384,154. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a 1 year low of $239.20 and a 1 year high of $316.90. The business has a 50 day moving average price of $272.69 and a two-hundred day moving average price of $266.71. The firm has a market cap of $74.19 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.69 and a beta of 0.49.

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 net margin of 7.93% and a return on equity of 17.10%. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same period in the previous year, the firm earned $2.88 earnings per share. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities analysts anticipate that General Dynamics Co. 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, August 8th. Investors of record on Thursday, July 3rd will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, July 3rd. General Dynamics's payout ratio is 41.61%.

About General Dynamics

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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