Wealth Enhancement Advisory Services LLC Purchases New Stake in General Dynamics Co. (NYSE:GD)

Posted by Defense World Staff on Jul 13th, 2023

Wealth Enhancement Advisory Services LLC purchased a new stake in General Dynamics Co. (NYSE:GD – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,102 shares of the aerospace company’s stock, valued at approximately $708,000.

Other hedge funds have also recently bought and sold shares of the company. GoalVest Advisory LLC purchased a new position in General Dynamics in the fourth quarter valued at approximately $25,000. MADDEN SECURITIES Corp purchased a new stake in shares of General Dynamics during the fourth quarter valued at approximately $25,000. Certified Advisory Corp purchased a new stake in shares of General Dynamics during the first quarter valued at approximately $25,000. VitalStone Financial LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at approximately $26,000. Finally, Pacifica Partners Inc. raised its stake in shares of General Dynamics by 833.3% during the first quarter. Pacifica Partners Inc. now owns 112 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 86.02% of the company’s stock.

Insider Activity

In other news, Director Mark Malcolm purchased 4,700 shares of General Dynamics stock in a transaction dated Tuesday, May 2nd. The stock was bought at an average price of $214.47 per share, with a total value of $1,008,009.00. Following the completion of the acquisition, the director now owns 4,700 shares in the company, valued at approximately $1,008,009. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

GD has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of General Dynamics in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Royal Bank of Canada dropped their price objective on shares of General Dynamics from $280.00 to $270.00 in a research note on Thursday, April 27th. Sanford C. Bernstein dropped their price objective on shares of General Dynamics from $251.00 to $245.00 in a research note on Thursday, May 4th. Wells Fargo & Company dropped their price objective on shares of General Dynamics from $265.00 to $251.00 in a research note on Thursday, April 27th. Finally, Robert W. Baird decreased their price target on shares of General Dynamics from $268.00 to $242.00 in a research report on Thursday, April 27th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $261.69.

General Dynamics Stock Performance

General Dynamics stock opened at $217.61 on Thursday. The company has a market cap of $59.70 billion, a PE ratio of 17.79, a P/E/G ratio of 1.89 and a beta of 0.84. The company has a fifty day moving average price of $211.71 and a two-hundred day moving average price of $224.07. 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 Co. has a 12 month low of $202.35 and a 12 month high of $256.86.

General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings data on Wednesday, April 26th. The aerospace company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.08. The firm had revenue of $9.88 billion during the quarter, compared to the consensus estimate of $9.30 billion. General Dynamics had a net margin of 8.50% and a return on equity of 18.66%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.61 earnings per share. Research analysts expect that General Dynamics Co. will post 12.65 earnings per share 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 issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, July 6th. General Dynamics’s dividend payout ratio (DPR) is 43.17%.

General Dynamics Company Profile

(Free Report)

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.

Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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