2,073 Shares in General Dynamics Corporation (NYSE:GD) Bought by SNS Financial Group LLC

SNS Financial Group LLC bought a new stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,073 shares of the aerospace company's stock, valued at approximately $565,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Securities Inc. increased its stake in shares of General Dynamics by 0.5% in the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock worth $2,161,000 after acquiring an additional 37 shares during the last quarter. Sharpepoint LLC increased its stake in shares of General Dynamics by 4.2% in the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock worth $249,000 after acquiring an additional 37 shares during the last quarter. 1858 Wealth Management LLC increased its stake in shares of General Dynamics by 1.2% in the 1st quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock worth $879,000 after acquiring an additional 38 shares during the last quarter. Keystone Financial Services increased its stake in shares of General Dynamics by 1.6% in the 1st quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock worth $660,000 after acquiring an additional 38 shares during the last quarter. Finally, Pure Financial Advisors LLC increased its position in shares of General Dynamics by 0.7% during the 1st quarter. Pure Financial Advisors LLC now owns 6,025 shares of the aerospace company's stock worth $1,642,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

Shares of GD stock traded down $0.87 during trading hours on Friday, hitting $299.22. The company had a trading volume of 1,636,205 shares, compared to its average volume of 1,406,219. The firm has a market capitalization of $80.31 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.99 and a beta of 0.46. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90. The firm's fifty day moving average is $284.47 and its 200 day moving average is $270.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34.

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

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Thursday, July 3rd. General Dynamics's payout ratio is currently 41.61%.

Insider Buying and Selling

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 shares were sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the completion of the sale, the chief executive officer directly owned 769,607 shares in the company, valued at $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 available at this hyperlink. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GD. TD Securities lifted their price objective on General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $298.00 to $342.00 in a research note on Tuesday, July 8th. Citigroup restated a "buy" rating and set a $348.00 target price (up previously from $330.00) on shares of General Dynamics in a research note on Monday, July 14th. Cowen reiterated a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th. Finally, Susquehanna boosted their price objective on General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of "Hold" and a consensus target price of $294.53.

General Dynamics 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.