Spirepoint Private Client LLC Purchases Shares of 25,196 General Dynamics Corporation (NYSE:GD)

Spirepoint Private Client LLC purchased a new position in General Dynamics Corporation (NYSE:GD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,196 shares of the aerospace company's stock, valued at approximately $6,868,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC boosted its holdings in shares of General Dynamics by 213.8% in the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 62 shares in the last quarter. Inlight Wealth Management LLC acquired a new position in shares of General Dynamics during the 1st quarter worth $26,000. Whipplewood Advisors LLC bought a new stake in shares of General Dynamics during the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Dynamics in the fourth quarter valued at about $26,000. Finally, Copia Wealth Management bought a new position in General Dynamics in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Trading Up 1.8%

GD stock traded up $5.02 during midday trading on Wednesday, hitting $286.07. The stock had a trading volume of 2,205,893 shares, compared to its average volume of 1,392,124. 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 firm has a market cap of $76.78 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.90 and a beta of 0.46. The business has a fifty day moving average price of $275.74 and a two-hundred day moving average price of $266.63. 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 announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.43 by $0.23. The company 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 firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.88 EPS. On average, sell-side analysts predict 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. Stockholders of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 2.10%. General Dynamics's dividend payout ratio is currently 41.61%.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the firm's stock in a transaction dated 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 directly owns 769,607 shares in the company, valued at $217,898,829.91. This trade represents a 18.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of research analyst reports. Citigroup reduced their price target on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company cut their target price on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. TD Securities upped their price target on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Argus set a $295.00 price objective on General Dynamics in a report on Tuesday, May 6th. Finally, UBS Group boosted their price objective on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, General Dynamics presently has an average rating of "Hold" and a consensus target price of $293.28.

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.