General Dynamics Co. (NYSE:GD) Shares Purchased by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,146 shares of the aerospace company’s stock after purchasing an additional 152 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in General Dynamics were worth $889,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GD. Moneta Group Investment Advisors LLC grew its position in shares of General Dynamics by 26.0% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 2,415 shares of the aerospace company’s stock worth $534,000 after acquiring an additional 499 shares in the last quarter. First Foundation Advisors lifted its holdings in shares of General Dynamics by 8.0% in the 3rd quarter. First Foundation Advisors now owns 1,480 shares of the aerospace company’s stock worth $327,000 after purchasing an additional 110 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of General Dynamics by 9.3% in the 3rd quarter. Belpointe Asset Management LLC now owns 1,409 shares of the aerospace company’s stock worth $311,000 after purchasing an additional 120 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of General Dynamics by 58.8% in the 3rd quarter. Harbour Investments Inc. now owns 2,099 shares of the aerospace company’s stock worth $464,000 after purchasing an additional 777 shares during the last quarter. Finally, Orion Capital Management LLC bought a new stake in shares of General Dynamics in the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Up 0.9 %

Shares of General Dynamics stock traded up $2.40 on Wednesday, reaching $281.91. 955,163 shares of the company were exchanged, compared to its average volume of 1,055,214. The stock has a fifty day moving average price of $293.78 and a 200-day moving average price of $279.60. The firm has a market capitalization of $77.35 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 1.60 and a beta of 0.60. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a fifty-two week low of $212.58 and a fifty-two week high of $302.75.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The company had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $2.64 earnings per share. On average, analysts expect that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, July 5th. General Dynamics’s payout ratio is 46.33%.

Insider Activity at General Dynamics

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the transaction, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,486 shares of company stock valued at $34,391,642. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the topic of several recent analyst reports. Sanford C. Bernstein lifted their target price on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Wells Fargo & Company lifted their target price on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Argus lifted their target price on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.56.

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.