Northwestern Mutual Wealth Management Co. Sells 122 Shares of General Dynamics Co. (NYSE:GD)

Posted by Defense World Staff on Jun 18th, 2023

Northwestern Mutual Wealth Management Co. reduced its position in General Dynamics Co. (NYSE:GD – Get Rating) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,361 shares of the aerospace company’s stock after selling 122 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in General Dynamics were worth $10,759,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GoalVest Advisory LLC bought a new position in shares of General Dynamics in the 4th quarter worth $25,000. MADDEN SECURITIES Corp bought a new position in shares of General Dynamics in the 4th quarter worth $25,000. Certified Advisory Corp bought a new position in shares of General Dynamics in the 1st quarter worth $25,000. VitalStone Financial LLC bought a new position in shares of General Dynamics in the 4th quarter worth $26,000. Finally, Live Oak Investment Partners bought a new position in shares of General Dynamics in the 4th quarter worth $30,000. 84.83% of the stock is currently owned by institutional investors.

Insider Transactions at General Dynamics

In other news, Director Mark Malcolm purchased 4,700 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was bought at an average price of $214.47 per share, for a total transaction of $1,008,009.00. Following the purchase, the director now owns 4,700 shares of the company’s stock, valued at $1,008,009. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is owned by corporate insiders.

General Dynamics Trading Up 1.1 %

Shares of General Dynamics stock opened at $217.34 on Friday. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $256.86. The firm has a market cap of $59.63 billion, a PE ratio of 17.77, a P/E/G ratio of 1.90 and a beta of 0.84. The stock has a fifty day moving average price of $214.80 and a 200-day moving average price of $228.32. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.39 and a quick ratio of 0.94.

General Dynamics (NYSE:GD – Get Rating) last posted its quarterly 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 company had revenue of $9.88 billion during the quarter, compared to the consensus estimate of $9.30 billion. General Dynamics had a return on equity of 18.66% and a net margin of 8.50%. 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 company earned $2.61 EPS. Equities research analysts anticipate that General Dynamics Co. will post 12.66 EPS for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Friday, July 7th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $5.28 annualized dividend and a dividend yield of 2.43%. General Dynamics’s payout ratio is 43.17%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company lowered their price target on General Dynamics from $265.00 to $251.00 in a research report on Thursday, April 27th. Credit Suisse Group lowered their price target on General Dynamics from $239.00 to $220.00 in a research report on Thursday, April 27th. Royal Bank of Canada lowered their price target on General Dynamics from $280.00 to $270.00 in a research report on Thursday, April 27th. William Blair assumed coverage on General Dynamics in a research report on Thursday, March 30th. They issued an “outperform” rating for the company. Finally, Sanford C. Bernstein lowered their price target on General Dynamics from $251.00 to $245.00 in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $261.69.

About General Dynamics

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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.