General Dynamics Corporation (NYSE:GD) Shares Purchased by Leelyn Smith LLC

Leelyn Smith LLC boosted its holdings in shares of General Dynamics Corporation (NYSE:GD) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,993 shares of the aerospace company’s stock after acquiring an additional 766 shares during the period. General Dynamics comprises 0.8% of Leelyn Smith LLC’s portfolio, making the stock its 26th largest holding. Leelyn Smith LLC’s holdings in General Dynamics were worth $4,632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC raised its position in General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 62 shares during the last quarter. Inlight Wealth Management LLC acquired a new position in General Dynamics during the first quarter worth about $26,000. Smallwood Wealth Investment Management LLC acquired a new position in General Dynamics during the first quarter worth about $27,000. Copia Wealth Management acquired a new position in General Dynamics during the fourth quarter worth about $27,000. Finally, Hoey Investments Inc. acquired a new position in General Dynamics during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Argus set a $295.00 price objective on shares of General Dynamics in a research report on Tuesday, May 6th. Susquehanna boosted their price objective on shares of General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research report on Wednesday, April 2nd. UBS Group boosted their price objective on shares of General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Finally, Citigroup cut their price objective on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $294.47.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the business’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $283.13, for a total value of $50,629,589.73. Following the transaction, the chief executive officer owned 769,607 shares in the company, valued at $217,898,829.91. The trade was a 18.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

General Dynamics Stock Performance

NYSE:GD opened at $302.20 on Monday. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $81.11 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.01 and a beta of 0.46. The firm’s fifty day simple moving average is $281.48 and its 200 day simple moving average is $269.33. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same quarter in the previous year, the business posted $2.88 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. As a group, equities research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 1.99%. General Dynamics’s dividend payout ratio is currently 41.61%.

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.