Janney Montgomery Scott LLC Has $68.61 Million Stock Position in General Dynamics Corporation $GD

Janney Montgomery Scott LLC lowered its position in shares of General Dynamics Corporation (NYSE:GD) by 3.3% in the first quarter, HoldingsChannel reports. The fund owned 199,909 shares of the aerospace company’s stock after selling 6,738 shares during the period. Janney Montgomery Scott LLC’s holdings in General Dynamics were worth $68,613,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in General Dynamics by 2.2% during 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 during the last quarter. State Street Corp boosted its stake in shares of General Dynamics by 2.7% in the 4th quarter. State Street Corp now owns 11,323,170 shares of the aerospace company’s stock valued at $3,812,058,000 after purchasing an additional 294,456 shares during the last quarter. Geode Capital Management LLC grew its position in shares of General Dynamics by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company’s stock worth $2,039,742,000 after buying an additional 195,604 shares during the period. JPMorgan Chase & Co. grew its position in shares of General Dynamics by 2.2% during the 4th quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company’s stock worth $1,786,786,000 after buying an additional 114,647 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of General Dynamics by 5.4% during the third quarter. Ameriprise Financial Inc. now owns 3,627,155 shares of the aerospace company’s stock worth $1,236,900,000 after buying an additional 187,435 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of General Dynamics stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the transaction, the director directly owned 10,643 shares in the company, valued at approximately $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction dated 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 of the company’s stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 78,190 shares of company stock worth $27,041,022. Corporate insiders own 1.40% of the company’s stock.

General Dynamics Stock Down 0.1%

General Dynamics stock opened at $346.30 on Monday. General Dynamics Corporation has a fifty-two week low of $288.62 and a fifty-two week high of $369.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The firm has a market capitalization of $93.65 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 2.15 and a beta of 0.34. The company’s 50 day simple moving average is $341.71 and its 200 day simple moving average is $347.58.

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, topping the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $3.66 earnings per share. As a group, sell-side analysts anticipate that General Dynamics Corporation will post 16.63 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio (DPR) is presently 40.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GD. The Goldman Sachs Group reduced their price objective on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research note on Monday, May 4th. Wall Street Zen upgraded shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Morgan Stanley increased their price target on General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Wells Fargo & Company initiated coverage on General Dynamics in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price target on the stock. Finally, DA Davidson decreased their price objective on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $388.40.

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.