Legacy Capital Group California Inc. Lowers Stake in General Dynamics Corporation $GD

Legacy Capital Group California Inc. lessened its position in General Dynamics Corporation (NYSE:GD) by 20.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,572 shares of the aerospace company’s stock after selling 1,403 shares during the period. General Dynamics comprises about 0.7% of Legacy Capital Group California Inc.’s holdings, making the stock its 20th biggest position. Legacy Capital Group California Inc.’s holdings in General Dynamics were worth $1,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GD. KERR FINANCIAL PLANNING Corp purchased a new stake in General Dynamics in the 3rd quarter worth approximately $25,000. Dagco Inc. acquired a new stake in General Dynamics in the 4th quarter worth about $25,000. Whipplewood Advisors LLC grew its holdings in General Dynamics by 1,725.0% in the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $25,000 after buying an additional 69 shares during the period. Burkett Financial Services LLC increased its stake in shares of General Dynamics by 650.0% during the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 65 shares during the last quarter. Finally, Steph & Co. increased its stake in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Mark Malcolm sold 5,480 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total value of $2,000,200.00. Following the transaction, the director owned 10,643 shares in the company, valued at $3,884,695. The trade was a 33.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Lagrand Burns sold 36,480 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president directly owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,190 shares of company stock worth $27,041,022 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

GD has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of General Dynamics in a report on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 target price for the company. Jefferies Financial Group lifted their price target on shares of General Dynamics from $400.00 to $440.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank Of Canada reissued a “sector perform” rating and set a $385.00 price objective on shares of General Dynamics in a research note on Thursday, April 30th. The Goldman Sachs Group cut their target price on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. Finally, DA Davidson reduced their target price on General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $391.15.

General Dynamics Stock Performance

Shares of GD stock opened at $372.96 on Tuesday. The company’s fifty day simple moving average is $351.09 and its 200-day simple moving average is $349.87. General Dynamics Corporation has a 52 week low of $293.95 and a 52 week high of $380.71. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The company has a market cap of $100.86 billion, a PE ratio of 23.47, a P/E/G ratio of 2.26 and a beta of 0.34.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. General Dynamics’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $3.66 earnings per share. As a group, equities research analysts anticipate that General Dynamics Corporation will post 16.64 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio (DPR) is presently 40.03%.

General Dynamics 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.