Drive Wealth Management LLC boosted its stake in General Dynamics Corporation (NYSE:GD – Free Report) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,463 shares of the aerospace company’s stock after buying an additional 78 shares during the quarter. Drive Wealth Management LLC’s holdings in General Dynamics were worth $427,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of General Dynamics in the first quarter worth approximately $272,464,000. Ameriprise Financial Inc. grew its holdings in shares of General Dynamics by 34.8% during the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock worth $749,252,000 after buying an additional 709,782 shares in the last quarter. Deutsche Bank AG raised its position in shares of General Dynamics by 120.9% in the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company’s stock valued at $343,866,000 after buying an additional 690,349 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of General Dynamics by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after buying an additional 256,687 shares in the last quarter. Finally, Aurora Private Wealth Inc. boosted its position in General Dynamics by 25,390.6% during the first quarter. Aurora Private Wealth Inc. now owns 203,670 shares of the aerospace company’s stock worth $55,516,000 after acquiring an additional 202,871 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.
General Dynamics Price Performance
GD stock opened at $337.34 on Tuesday. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $347.37. The business has a fifty day moving average of $327.31 and a two-hundred day moving average of $299.87. The stock has a market cap of $90.74 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 2.04 and a beta of 0.47. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.
General Dynamics Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is presently 40.27%.
Analyst Ratings Changes
A number of research firms have commented on GD. Citigroup increased their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Cowen reaffirmed a “buy” rating on shares of General Dynamics in a report on Wednesday, June 25th. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the company a “hold” rating in a report on Wednesday, July 9th. TD Cowen upped their target price on General Dynamics from $290.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Finally, Wall Street Zen upgraded General Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $327.44.
View Our Latest Research Report on General Dynamics
Insider Transactions at General Dynamics
In related news, Director Mark Malcolm sold 3,220 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $329.45, for a total value of $1,060,829.00. Following the sale, the director owned 10,186 shares in the company, valued at approximately $3,355,777.70. The trade was a 24.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the transaction, the executive vice president owned 45,192 shares of the company’s stock, valued at $14,244,518.40. This trade represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,020 shares of company stock worth $86,414,503 in the last three months. Company insiders own 1.50% of the company’s stock.
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.
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