11,676 Shares in General Dynamics Co. (NYSE:GD) Bought by Summit Global Investments

Summit Global Investments bought a new stake in shares of General Dynamics Co. (NYSE:GD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,676 shares of the aerospace company's stock, valued at approximately $3,183,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GD. Financial Life Planners acquired a new stake in General Dynamics during the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new stake in General Dynamics during the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Dynamics during the fourth quarter valued at approximately $26,000. Copia Wealth Management acquired a new stake in shares of General Dynamics during the fourth quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of General Dynamics during the fourth quarter valued at approximately $28,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Up 1.1%

GD stock traded up $3.13 during trading hours on Friday, hitting $278.33. The company's stock had a trading volume of 1,657,534 shares, compared to its average volume of 1,380,699. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $74.70 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.69 and a beta of 0.49. General Dynamics Co. has a 12 month low of $239.20 and a 12 month high of $316.90. The stock has a 50 day moving average price of $272.24 and a two-hundred day moving average price of $266.96.

General Dynamics (NYSE:GD - Get Free Report) last posted 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. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.88 earnings per share. On average, equities research analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 11th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.16%. This is an increase from General Dynamics's previous quarterly dividend of $1.42. The ex-dividend date was Friday, April 11th. General Dynamics's payout ratio is currently 41.61%.

Analyst Upgrades and Downgrades

GD has been the topic of a number of recent analyst reports. William Blair lowered shares of General Dynamics from an "outperform" rating to a "market perform" rating in a report on Friday, February 21st. Cowen restated a "buy" rating on shares of General Dynamics in a report on Thursday, April 24th. BTIG Research lowered shares of General Dynamics from a "buy" rating to a "neutral" rating in a report on Thursday, February 13th. Argus set a $295.00 price target on shares of General Dynamics in a report on Tuesday, May 6th. Finally, Barclays cut their price target on shares of General Dynamics from $305.00 to $285.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $293.00.

Insiders Place Their Bets

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the sale, the senior vice president now directly owns 45,192 shares of the company's stock, valued at approximately $12,297,195.12. This represents a 37.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company's stock.

General Dynamics Company 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.