NewEdge Wealth LLC Grows Stock Holdings in General Dynamics Corporation $GD

NewEdge Wealth LLC grew its holdings in General Dynamics Corporation (NYSE:GD) by 25.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,039 shares of the aerospace company’s stock after purchasing an additional 2,244 shares during the quarter. NewEdge Wealth LLC’s holdings in General Dynamics were worth $3,716,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in General Dynamics by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after purchasing an additional 528,769 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in General Dynamics by 5.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,627,155 shares of the aerospace company’s stock worth $1,236,900,000 after purchasing an additional 187,435 shares in the last quarter. Northern Trust Corp lifted its stake in General Dynamics by 35.0% in the 3rd quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock worth $1,136,525,000 after purchasing an additional 863,392 shares in the last quarter. Franklin Resources Inc. lifted its stake in General Dynamics by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,770,714 shares of the aerospace company’s stock worth $603,813,000 after purchasing an additional 58,524 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in General Dynamics by 118.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock worth $567,372,000 after purchasing an additional 901,679 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 32,918 shares of General Dynamics stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total value of $11,655,934.62. Following the completion of the sale, the chief executive officer owned 766,457 shares in the company, valued at approximately $271,394,759.13. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Lagrand Burns sold 10,153 shares of General Dynamics stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $354.95, for a total transaction of $3,603,807.35. Following the completion of the sale, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,834,176.25. This trade represents a 20.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 51,260 shares of company stock worth $18,133,971 over the last quarter. Company insiders own 1.40% of the company’s stock.

General Dynamics Stock Down 0.8%

Shares of NYSE GD opened at $343.90 on Tuesday. The company has a 50 day simple moving average of $345.38 and a 200-day simple moving average of $346.78. The company has a market capitalization of $93.00 billion, a P/E ratio of 21.64, a P/E/G ratio of 2.15 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. General Dynamics Corporation has a 1 year low of $267.39 and a 1 year high of $369.70.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. During the same quarter last year, the firm earned $3.66 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts predict that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were issued a $1.59 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. The ex-dividend date was Friday, April 10th. This represents a $6.36 annualized dividend and a yield of 1.8%. General Dynamics’s payout ratio is 40.03%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GD shares. UBS Group decreased their target price on shares of General Dynamics from $385.00 to $371.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $385.00 price target on shares of General Dynamics in a report on Thursday, April 30th. The Goldman Sachs Group cut their price target on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a report on Monday, May 4th. Sanford C. Bernstein restated a “market perform” rating and set a $398.00 price target on shares of General Dynamics in a report on Monday, January 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $388.20.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.