General Dynamics Corporation $GD Shares Acquired by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas increased its position in General Dynamics Corporation (NYSE:GD) by 65.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 127,103 shares of the aerospace company’s stock after acquiring an additional 50,049 shares during the quarter. General Dynamics accounts for approximately 2.3% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its 16th largest holding. Smith Chas P & Associates PA Cpas’ holdings in General Dynamics were worth $42,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the company. Joule Financial LLC grew its holdings in shares of General Dynamics by 4.3% in the 4th quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock worth $237,000 after acquiring an additional 29 shares during the period. Brown Miller Wealth Management LLC grew its holdings in shares of General Dynamics by 0.3% in the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock worth $2,993,000 after acquiring an additional 29 shares during the period. First Financial Bankshares Inc grew its holdings in shares of General Dynamics by 2.6% in the 3rd quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company’s stock worth $408,000 after acquiring an additional 30 shares during the period. Steph & Co. grew its holdings in shares of General Dynamics by 65.2% in the 4th 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. Finally, Revolve Wealth Partners LLC grew its holdings in shares of General Dynamics by 3.3% in the 4th quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock worth $329,000 after acquiring an additional 31 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This represents a 48.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total value of $1,350,016.50. Following the transaction, the executive vice president directly owned 44,767 shares in the company, valued at approximately $15,825,134.50. This represents a 7.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 119,600 shares of company stock valued at $41,650,580 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GD shares. Wall Street Zen cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 23rd. Morgan Stanley upped their price target on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Bank of America reaffirmed a “buy” rating and issued a $400.00 target price on shares of General Dynamics in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft reduced their target price on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Finally, BNP Paribas Exane reduced their target price on General Dynamics from $430.00 to $390.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $387.40.

General Dynamics Price Performance

GD stock opened at $342.87 on Thursday. General Dynamics Corporation has a 1 year low of $268.10 and a 1 year high of $369.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The stock’s 50 day moving average price is $341.15 and its 200 day moving average price is $346.54. The firm has a market cap of $92.72 billion, a P/E ratio of 21.58, a PEG ratio of 2.14 and a beta of 0.34.

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

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were paid a dividend of $1.59 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. General Dynamics’s dividend payout ratio is currently 40.03%.

General Dynamics Company 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.