Gallacher Capital Management LLC Invests $790,000 in General Dynamics Corporation $GD

Gallacher Capital Management LLC bought a new stake in shares of General Dynamics Corporation (NYSE:GD) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,302 shares of the aerospace company’s stock, valued at approximately $790,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of General Dynamics in the third quarter valued at about $25,000. Whipplewood Advisors LLC raised its position in shares of General Dynamics by 1,725.0% during the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 69 shares during the last quarter. Dagco Inc. purchased a new position in General Dynamics in the 4th quarter valued at about $25,000. Steph & Co. lifted its stake in General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after buying an additional 30 shares in the last quarter. Finally, Motiv8 Investments LLC acquired a new stake in General Dynamics in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 in the company, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Malcolm sold 5,480 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 78,190 shares of company stock worth $27,041,022 over the last three months. Insiders own 1.40% of the company’s stock.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $368.86 on Friday. General Dynamics Corporation has a 52 week low of $293.95 and a 52 week high of $380.71. The business’s fifty day simple moving average is $352.28 and its 200-day simple moving average is $350.36. The firm has a market cap of $99.75 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 2.20 and a beta of 0.34. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24.

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, topping analysts’ consensus estimates of $3.67 by $0.43. The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $3.66 EPS. Equities analysts forecast that General Dynamics Corporation will post 16.64 earnings per share for the current year.

General Dynamics Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Citigroup reduced their target price on General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a report on Monday, May 18th. DA Davidson lowered their price target on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. The Goldman Sachs Group dropped their price target on General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research report on Monday, May 4th. Weiss Ratings upgraded General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Finally, Morgan Stanley lifted their target price on shares of General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $391.15.

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.