13,497 Shares in General Dynamics Corporation $GD Purchased by Barometer Capital Management Inc.

Barometer Capital Management Inc. purchased a new stake in shares of General Dynamics Corporation (NYSE:GD) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 13,497 shares of the aerospace company’s stock, valued at approximately $4,611,000. General Dynamics accounts for about 1.9% of Barometer Capital Management Inc.’s holdings, making the stock its 16th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Whipplewood Advisors LLC increased its stake in shares of General Dynamics by 1,725.0% during the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $25,000 after buying an additional 69 shares during the period. Steph & Co. lifted its stake in General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 30 shares during the period. Scarborough Advisors LLC bought a new stake in General Dynamics in the first quarter valued at $29,000. Wilkerson Advisory Group LLC boosted its holdings in General Dynamics by 79.6% in the first quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 39 shares in the last quarter. Finally, Center for Financial Planning Inc. increased its position in General Dynamics by 220.7% during the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $367.40 on Wednesday. General Dynamics Corporation has a 12 month low of $293.95 and a 12 month high of $380.71. The firm has a market capitalization of $99.36 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.23 and a beta of 0.34. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $353.69 and a two-hundred day simple moving average of $351.00.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.66 EPS. On average, equities analysts forecast that General Dynamics Corporation will post 16.64 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio is 40.03%.

Insider Transactions at General Dynamics

In other news, Director Mark Malcolm sold 5,480 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the sale, the director directly owned 10,643 shares of the company’s stock, valued at $3,884,695. The trade was a 33.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the sale, the executive vice president owned 38,975 shares in the company, valued at $13,457,677.75. The trade was a 48.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 78,190 shares of company stock worth $27,041,022. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GD. The Goldman Sachs Group decreased their price objective 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. Jefferies Financial Group boosted their price target on shares of General Dynamics from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Bank of America increased their price target on shares of General Dynamics from $400.00 to $415.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Morgan Stanley raised their price objective on shares of General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Wall Street Zen raised General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $391.15.

About General Dynamics

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.