Tyche Wealth Partners LLC Trims Stock Position in General Dynamics Corporation (NYSE:GD)

Tyche Wealth Partners LLC trimmed its holdings in General Dynamics Corporation (NYSE:GD) by 45.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,218 shares of the aerospace company’s stock after selling 1,007 shares during the period. Tyche Wealth Partners LLC’s holdings in General Dynamics were worth $332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Rialto Wealth Management LLC grew its holdings in General Dynamics by 213.8% in the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 62 shares during the period. Whipplewood Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of General Dynamics during the 4th quarter valued at $26,000. Inlight Wealth Management LLC purchased a new stake in shares of General Dynamics during the 1st quarter valued at $26,000. Finally, Copia Wealth Management acquired a new stake in shares of General Dynamics during the 4th quarter worth $27,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the sale, the chief executive officer now owns 769,607 shares in the company, valued at $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by insiders.

General Dynamics Stock Performance

NYSE:GD opened at $286.07 on Thursday. The firm has a 50-day moving average of $275.93 and a two-hundred day moving average of $266.76. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. The stock has a market cap of $76.78 billion, a P/E ratio of 19.84, a PEG ratio of 1.89 and a beta of 0.46. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $316.90.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter in the prior year, the business posted $2.88 earnings per share. General Dynamics’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 2.10%. General Dynamics’s dividend payout ratio (DPR) is 41.61%.

Analysts Set New Price Targets

GD has been the topic of a number of research analyst reports. TD Cowen lifted their target price on General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup reduced their price objective on General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company decreased their target price on General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Argus set a $295.00 price target on shares of General Dynamics in a report on Tuesday, May 6th. Finally, Cowen reaffirmed a “buy” rating on shares of General Dynamics in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $293.28.

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.