Avidian Wealth Enterprises LLC Has $978,000 Position in General Dynamics Corporation $GD

Avidian Wealth Enterprises LLC cut its holdings in General Dynamics Corporation (NYSE:GD) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,354 shares of the aerospace company’s stock after selling 55 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in General Dynamics were worth $978,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GD. 1858 Wealth Management LLC raised its holdings in shares of General Dynamics by 1.0% during the second quarter. 1858 Wealth Management LLC now owns 3,256 shares of the aerospace company’s stock worth $950,000 after acquiring an additional 32 shares during the period. Nicholson Wealth Management Group LLC increased its holdings in General Dynamics by 0.5% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 6,582 shares of the aerospace company’s stock worth $1,920,000 after purchasing an additional 33 shares in the last quarter. Crewe Advisors LLC raised its stake in shares of General Dynamics by 10.9% in the 2nd quarter. Crewe Advisors LLC now owns 347 shares of the aerospace company’s stock valued at $101,000 after purchasing an additional 34 shares during the period. Salvus Wealth Management LLC lifted its holdings in shares of General Dynamics by 2.9% in the second quarter. Salvus Wealth Management LLC now owns 1,274 shares of the aerospace company’s stock valued at $372,000 after purchasing an additional 36 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in shares of General Dynamics by 0.5% during the first quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company’s stock worth $2,161,000 after buying an additional 37 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Seaport Res Ptn raised General Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Wolfe Research raised their price target on shares of General Dynamics from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Cowen reissued a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. TD Cowen increased their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, General Dynamics has an average rating of “Hold” and a consensus target price of $327.44.

General Dynamics Stock Performance

Shares of GD opened at $340.73 on Wednesday. The company has a market cap of $91.65 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 2.07 and a beta of 0.47. The firm has a 50-day moving average of $327.84 and a 200-day moving average of $300.15. General Dynamics Corporation has a one year low of $239.20 and a one year high of $347.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same period last year, the business posted $3.26 EPS. General Dynamics’s revenue was up 8.9% on a year-over-year basis. As a group, equities analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics’s payout ratio is currently 40.27%.

Insider Buying and Selling at General Dynamics

In related news, VP William A. Moss sold 17,700 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $316.40, for a total value of $5,600,280.00. Following the sale, the vice president owned 16,627 shares in the company, valued at approximately $5,260,782.80. This represents a 51.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Lagrand Burns sold 43,860 shares of the firm’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $312.28, for a total value of $13,696,600.80. Following the sale, the executive vice president directly owned 39,875 shares of the company’s stock, valued at $12,452,165. This represents a 52.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock worth $86,414,503 in the last three months. 1.50% of the stock is owned by insiders.

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.