Avidian Wealth Solutions LLC Increases Stake in General Dynamics Co. (NYSE:GD)

Avidian Wealth Solutions LLC lifted its stake in General Dynamics Co. (NYSE:GD) by 5.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,146 shares of the aerospace company’s stock after purchasing an additional 152 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in General Dynamics were worth $889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eudaimonia Partners LLC acquired a new position in General Dynamics in the 4th quarter worth approximately $240,000. Benjamin F. Edwards & Company Inc. increased its holdings in General Dynamics by 188.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 40,830 shares of the aerospace company’s stock worth $10,602,000 after buying an additional 26,668 shares during the period. Pacer Advisors Inc. increased its holdings in General Dynamics by 99.3% in the 4th quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock worth $7,542,000 after buying an additional 14,468 shares during the period. Principal Securities Inc. acquired a new position in General Dynamics in the 4th quarter worth approximately $1,056,000. Finally, Gladstone Capital Management LLP acquired a new position in General Dynamics in the 4th quarter worth approximately $3,869,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

GD stock traded up $2.40 during midday trading on Wednesday, reaching $281.91. The stock had a trading volume of 955,163 shares, compared to its average volume of 1,055,214. The company’s fifty day simple moving average is $293.78 and its 200 day simple moving average is $279.60. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The company has a market cap of $77.35 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 1.60 and a beta of 0.60. General Dynamics Co. has a 52-week low of $212.58 and a 52-week high of $302.75.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the previous year, the business posted $2.64 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that General Dynamics Co. will post 14.56 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 2.01%. General Dynamics’s dividend payout ratio is presently 46.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GD shares. Sanford C. Bernstein raised their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their price objective on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Citigroup raised their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company raised their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $305.56.

Insider Transactions at General Dynamics

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the sale, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The disclosure for this sale can be found here. Insiders have sold a total of 118,486 shares of company stock worth $34,391,642 in the last quarter. Company insiders own 1.60% of the company’s stock.

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.