Sowell Financial Services LLC Takes $862,000 Position 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 SEC. The firm acquired 3,163 shares of the aerospace company's stock, valued at approximately $862,000.

A number of other large investors have also added to or reduced their stakes in the business. Capital & Planning LLC raised its position in General Dynamics by 9.8% during the 4th quarter. Capital & Planning LLC now owns 1,538 shares of the aerospace company's stock worth $405,000 after purchasing an additional 137 shares during the last quarter. Brighton Jones LLC raised its position in shares of General Dynamics by 16.9% during the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock worth $760,000 after acquiring an additional 417 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of General Dynamics during the fourth quarter worth about $96,000. Atria Wealth Solutions Inc. raised its holdings in General Dynamics by 7.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 27,032 shares of the aerospace company's stock worth $7,123,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in General Dynamics during the 4th quarter worth approximately $59,000. Institutional investors own 86.14% of the company's stock.

Insider Buying and Selling

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction on Friday, June 13th. The shares were 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 in the company, valued at $217,898,829.91. This represents a 18.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Stock Down 0.0%

GD stock traded down $0.07 during midday trading on Friday, reaching $278.46. 1,518,679 shares of the company's stock traded hands, compared to its average volume of 1,389,593. The company has a market cap of $74.74 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.88 and a beta of 0.46. The firm's fifty day moving average price is $275.58 and its 200-day moving average price is $266.51. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same quarter in the prior year, the business posted $2.88 EPS. The firm's revenue was up 13.9% compared to the same quarter last year. As a group, sell-side analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 2.15%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio is currently 41.61%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GD. Argus set a $295.00 price target on shares of General Dynamics in a report on Tuesday, May 6th. Cowen reissued a "buy" rating on shares of General Dynamics in a research note on Thursday, April 24th. Citigroup lowered their price objective on General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Susquehanna lifted their price objective on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research report on Wednesday, April 2nd. Finally, TD Securities lifted their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $293.00.

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.