Brown Advisory Inc. Purchases 545 Shares of General Dynamics Co. (NYSE:GD)

Posted by Defense World Staff on Jun 11th, 2023

Brown Advisory Inc. raised its holdings in shares of General Dynamics Co. (NYSE:GD – Get Rating) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,148 shares of the aerospace company’s stock after purchasing an additional 545 shares during the period. Brown Advisory Inc.’s holdings in General Dynamics were worth $13,683,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $25,000. MADDEN SECURITIES Corp purchased a new stake in General Dynamics in the fourth quarter valued at $25,000. Certified Advisory Corp purchased a new stake in shares of General Dynamics during the 1st quarter worth about $25,000. VitalStone Financial LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth about $26,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of General Dynamics during the 4th quarter worth about $32,000. 84.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Mark Malcolm bought 4,700 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were bought at an average cost of $214.47 per share, for a total transaction of $1,008,009.00. Following the transaction, the director now owns 4,700 shares in the company, valued at approximately $1,008,009. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Down 0.6 %

GD opened at $212.27 on Friday. The firm’s 50-day simple moving average is $216.30 and its 200-day simple moving average is $229.64. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.94 and a current ratio of 1.39. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $256.86. The firm has a market cap of $58.23 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.87 and a beta of 0.84.

General Dynamics (NYSE:GD – Get Rating) last posted its earnings results on Wednesday, April 26th. The aerospace company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.08. The business had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.30 billion. General Dynamics had a net margin of 8.50% and a return on equity of 18.66%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.61 EPS. Equities research analysts anticipate that General Dynamics Co. will post 12.66 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, July 7th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $5.28 dividend on an annualized basis and a yield of 2.49%. General Dynamics’s payout ratio is presently 43.17%.

Analyst Ratings Changes

Several analysts have recently weighed in on GD shares. Wells Fargo & Company dropped their price target on shares of General Dynamics from $265.00 to $251.00 in a research note on Thursday, April 27th. Robert W. Baird cut their price target on shares of General Dynamics from $268.00 to $242.00 in a research note on Thursday, April 27th. StockNews.com assumed coverage on shares of General Dynamics in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Credit Suisse Group dropped their price objective on shares of General Dynamics from $239.00 to $220.00 in a research note on Thursday, April 27th. Finally, William Blair initiated coverage on shares of General Dynamics in a report on Thursday, March 30th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.69.

General Dynamics Profile

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General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver state-of-the-art solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets.