Gold Investment Management Ltd. Acquires 116 Shares of General Dynamics Co. (NYSE:GD)

Gold Investment Management Ltd. raised its position in shares of General Dynamics Co. (NYSE:GD) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,825 shares of the aerospace company’s stock after buying an additional 116 shares during the period. Gold Investment Management Ltd.’s holdings in General Dynamics were worth $1,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GD. Legend Financial Advisors Inc. boosted its position in shares of General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 36 shares in the last quarter. Diversified Trust Co increased its stake in shares of General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after purchasing an additional 36 shares during the last quarter. Fulton Bank N.A. increased its stake in shares of General Dynamics by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after purchasing an additional 37 shares during the last quarter. Copperwynd Financial LLC grew its stake in General Dynamics by 3.7% in the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock valued at $274,000 after buying an additional 38 shares during the last quarter. Finally, Woodward Diversified Capital LLC grew its stake in General Dynamics by 2.3% in the 4th quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock valued at $448,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the transaction, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the transaction, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,486 shares of company stock worth $34,391,642. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GD has been the subject of several research reports. Susquehanna increased their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Citigroup raised their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Robert W. Baird restated an “outperform” rating and set a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.56.

General Dynamics Stock Up 0.9 %

Shares of GD traded up $2.40 during midday trading on Wednesday, hitting $281.91. The company had a trading volume of 955,163 shares, compared to its average volume of 1,055,214. The company’s 50-day simple moving average is $293.69 and its 200-day simple moving average is $279.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. The firm has a market capitalization of $77.35 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.60 and a beta of 0.60. General Dynamics Co. has a 1 year low of $212.58 and a 1 year high of $302.75.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). The firm had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $2.64 EPS. As a group, sell-side analysts expect that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a $1.42 dividend. The ex-dividend date of this dividend 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 currently 46.33%.

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.