Earnest Partners LLC Has $63.92 Million Position in General Dynamics Co. (NYSE:GD)

Earnest Partners LLC boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 31.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,271 shares of the aerospace company’s stock after buying an additional 54,388 shares during the period. Earnest Partners LLC owned about 0.08% of General Dynamics worth $63,919,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. MeadowBrook Investment Advisors LLC acquired a new stake in shares of General Dynamics in the 4th quarter valued at $25,000. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics in the 4th quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics in the 1st quarter valued at $29,000. Finally, Legend Financial Advisors Inc. boosted its stake in shares of General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Down 0.3 %

Shares of GD traded down $0.91 on Monday, hitting $289.49. The company’s stock had a trading volume of 1,078,795 shares, compared to its average volume of 1,072,839. General Dynamics Co. has a fifty-two week low of $214.53 and a fifty-two week high of $302.75. The firm has a market capitalization of $79.43 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 1.66 and a beta of 0.60. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm’s fifty day moving average price is $292.65 and its 200-day moving average price is $282.60.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). The firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.70 EPS. On average, equities research analysts expect that General Dynamics Co. will post 14.51 EPS for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Analysts Set New Price Targets

GD has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Barclays lifted their price target on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Argus lifted their price target on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 29th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and lifted their price target for the company from $305.00 to $335.00 in a report on Monday, April 29th. Finally, BTIG Research started coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $311.33.

Insider Transactions at General Dynamics

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’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 sale, 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 is accessible through this link. In related news, Director Leon Rudy F. De sold 2,570 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the sale, the director now directly owns 5,518 shares of the company’s stock, valued at $1,589,184. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the sale, 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. In the last three months, insiders have sold 55,069 shares of company stock valued at $16,295,101. 1.52% of the stock is owned by corporate insiders.

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.