Arete Wealth Advisors LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,114 shares of the aerospace company’s stock, valued at approximately $711,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mcdonald Partners LLC increased its stake in General Dynamics by 0.9% during the 1st quarter. Mcdonald Partners LLC now owns 5,075 shares of the aerospace company’s stock worth $1,158,000 after buying an additional 45 shares during the period. Mission Wealth Management LP increased its stake in General Dynamics by 3.4% during the 1st quarter. Mission Wealth Management LP now owns 1,385 shares of the aerospace company’s stock worth $316,000 after buying an additional 46 shares during the period. Alliance Wealth Advisors LLC UT increased its stake in General Dynamics by 1.9% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 2,474 shares of the aerospace company’s stock worth $565,000 after buying an additional 47 shares during the period. Rehmann Capital Advisory Group increased its stake in General Dynamics by 2.7% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,853 shares of the aerospace company’s stock worth $460,000 after buying an additional 48 shares during the period. Finally, Capital Investment Advisors LLC increased its stake in General Dynamics by 0.6% during the 1st quarter. Capital Investment Advisors LLC now owns 8,363 shares of the aerospace company’s stock worth $1,909,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 86.08% of the company’s stock.
General Dynamics Trading Up 1.2 %
General Dynamics stock opened at $224.05 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $221.57 and a two-hundred day moving average price of $219.30. The firm has a market capitalization of $61.17 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.95 and a beta of 0.84. General Dynamics Co. has a 52-week low of $202.35 and a 52-week high of $256.86.
General Dynamics Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics’s dividend payout ratio is currently 43.35%.
Insider Transactions at General Dynamics
In other news, VP Gregory S. Gallopoulos sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $225.83, for a total value of $1,467,895.00. Following the completion of the sale, the vice president now directly owns 113,319 shares of the company’s stock, valued at approximately $25,590,829.77. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Gregory S. Gallopoulos sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $225.83, for a total value of $1,467,895.00. Following the sale, the vice president now directly owns 113,319 shares in the company, valued at approximately $25,590,829.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 33,230 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $227.96, for a total transaction of $7,575,110.80. Following the completion of the sale, the chief executive officer now owns 778,092 shares in the company, valued at $177,373,852.32. The disclosure for this sale can be found here. In the last three months, insiders sold 53,230 shares of company stock valued at $12,086,716. Company insiders own 1.52% of the company’s stock.
Wall Street Analysts Forecast Growth
GD has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of General Dynamics from $244.00 to $258.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. StockNews.com assumed coverage on shares of General Dynamics in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Morgan Stanley boosted their target price on shares of General Dynamics from $248.00 to $250.00 in a research report on Thursday, July 27th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $262.38.
Get Our Latest Research Report on General Dynamics
About General Dynamics
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.
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