Sowell Financial Services LLC Makes New Investment in General Dynamics Corporation (NYSE:GD)

Sowell Financial Services LLC acquired a new stake in General Dynamics Corporation (NYSE:GD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,163 shares of the aerospace company's stock, valued at approximately $862,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thrive Wealth Management LLC lifted its stake in General Dynamics by 2.1% in the first quarter. Thrive Wealth Management LLC now owns 2,002 shares of the aerospace company's stock valued at $546,000 after buying an additional 41 shares during the last quarter. Austin Wealth Management LLC increased its holdings in shares of General Dynamics by 5.4% in the fourth quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company's stock valued at $220,000 after purchasing an additional 42 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of General Dynamics by 35.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company's stock valued at $43,000 after purchasing an additional 43 shares during the period. Stokes Family Office LLC increased its holdings in shares of General Dynamics by 0.4% in the fourth quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company's stock valued at $2,708,000 after purchasing an additional 43 shares during the period. Finally, ICW Investment Advisors LLC increased its holdings in shares of General Dynamics by 0.5% in the fourth quarter. ICW Investment Advisors LLC now owns 8,491 shares of the aerospace company's stock valued at $2,237,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 86.14% of the company's stock.

Insider Activity at General Dynamics

In related 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 transaction, the chief executive officer now directly owns 769,607 shares in the company, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GD. Wells Fargo & Company dropped their target price on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. UBS Group boosted their target price on General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Morgan Stanley dropped their target price on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Susquehanna boosted their target price on General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a report on Wednesday, April 2nd. Finally, TD Securities upped their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $293.00.

General Dynamics Price Performance

GD traded down $0.07 during trading on Friday, reaching $278.46. 1,518,679 shares of the stock were exchanged, compared to its average volume of 1,390,783. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. The company has a market capitalization of $74.74 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.87 and a beta of 0.46. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $316.90. The business's 50 day moving average price is $275.55 and its two-hundred day moving average price is $266.58.

General Dynamics (NYSE:GD - Get Free Report) last posted 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 business 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 revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.88 earnings per share. As a group, equities research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

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

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.