Core Wealth Advisors LLC Invests $811,000 in General Dynamics Corporation $GD

Core Wealth Advisors LLC bought a new position in shares of General Dynamics Corporation (NYSE:GD) during the fourth quarter, Holdings Channel reports. The firm bought 2,409 shares of the aerospace company’s stock, valued at approximately $811,000. General Dynamics accounts for 0.5% of Core Wealth Advisors LLC’s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC raised its stake in shares of General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp bought a new stake in shares of General Dynamics during the 3rd quarter worth $25,000. Dagco Inc. bought a new stake in shares of General Dynamics during the 4th quarter worth $25,000. Burkett Financial Services LLC raised 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 worth $26,000 after purchasing an additional 65 shares during the period. Finally, Steph & Co. raised 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 worth $26,000 after purchasing an additional 30 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was 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 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 32,918 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total value of $11,655,934.62. Following the transaction, the chief executive officer directly owned 766,457 shares of the company’s stock, valued at $271,394,759.13. The trade was a 4.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 119,600 shares of company stock valued at $41,650,580. 1.40% of the stock is owned by corporate insiders.

General Dynamics Stock Down 0.7%

Shares of NYSE GD opened at $346.47 on Friday. General Dynamics Corporation has a 12 month low of $268.10 and a 12 month high of $369.70. 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 firm has a market capitalization of $93.69 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.15 and a beta of 0.34. The business has a 50-day moving average of $340.85 and a 200-day moving average of $346.56.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the previous year, the firm earned $3.66 earnings per share. General Dynamics’s revenue was up 10.3% on a year-over-year basis. Sell-side analysts expect that General Dynamics Corporation will post 16.62 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were issued a dividend of $1.59 per share. The ex-dividend date of this dividend was Friday, April 10th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.50. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. General Dynamics’s payout ratio is presently 40.03%.

Analyst Ratings Changes

Several equities research analysts have commented on GD shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. UBS Group dropped their price objective on shares of General Dynamics from $385.00 to $371.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. The Goldman Sachs Group dropped their price objective on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a report on Monday, May 4th. Finally, Wall Street Zen downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $387.40.

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.