Segment Wealth Management LLC Purchases New Stake in General Dynamics Corporation (NYSE:GD)

Segment Wealth Management LLC acquired a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,563 shares of the aerospace company's stock, valued at approximately $426,000.

Other large investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC lifted its position in shares of General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after buying an additional 62 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in General Dynamics during the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of General Dynamics in the fourth quarter worth about $26,000. Copia Wealth Management acquired a new stake in shares of General Dynamics in the 4th quarter valued at approximately $27,000. Finally, Hoey Investments Inc. bought a new stake in shares of General Dynamics during the 4th quarter valued at approximately $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company's stock.

General Dynamics Stock Performance

GD stock opened at $278.46 on Friday. The firm has a market cap of $74.74 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.87 and a beta of 0.46. 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 stock has a 50-day moving average price of $275.58 and a 200-day moving average price of $266.58. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last released 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 business had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. During the same quarter last year, the firm posted $2.88 earnings per share. The firm's revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, July 3rd. General Dynamics's payout ratio is 41.61%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GD shares. Argus set a $295.00 target price on shares of General Dynamics in a research report on Tuesday, May 6th. TD Securities upped their target price on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Wells Fargo & Company cut their price target on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley lowered their price objective on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, Cowen reiterated a "buy" rating on shares of General Dynamics in a report 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average 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.

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