General Dynamics Co. (NYSE:GD) Shares Purchased by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. raised its stake in General Dynamics Co. (NYSE:GD) by 8.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,961 shares of the aerospace company’s stock after purchasing an additional 238 shares during the quarter. Geneos Wealth Management Inc.’s holdings in General Dynamics were worth $837,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at $25,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at $25,000. Richardson Financial Services Inc. acquired a new position in shares of General Dynamics in the 4th quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics in the 1st quarter valued at $29,000. Finally, Legend Financial Advisors Inc. raised its stake in shares of General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 0.8 %

GD stock traded up $2.24 during mid-day trading on Thursday, hitting $284.15. 934,157 shares of the company were exchanged, compared to its average volume of 1,054,298. The company has a market capitalization of $77.96 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.60 and a beta of 0.60. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a twelve month low of $212.58 and a twelve month high of $302.75. The firm has a fifty day simple moving average of $293.69 and a 200 day simple moving average of $279.61.

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 the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same period in the prior year, the business earned $2.64 earnings per share. General Dynamics’s revenue was up 8.6% on a year-over-year basis. On average, research analysts forecast that General Dynamics Co. will post 14.56 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm 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 $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. The Goldman Sachs Group raised their target price on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Argus raised their target price on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company raised their target price on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Sanford C. Bernstein raised their target price on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $305.56.

Insider Activity

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

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.