Leo Wealth LLC Purchases Shares of 951 General Dynamics Co. (NYSE:GD)

Leo Wealth LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the fourth quarter, Holdings Channel.com reports. The fund acquired 951 shares of the aerospace company’s stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GD. Norges Bank acquired a new stake in shares of General Dynamics during the 4th quarter valued at $728,284,000. Wellington Management Group LLP lifted its holdings in shares of General Dynamics by 12.0% in the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after purchasing an additional 1,755,276 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of General Dynamics by 10,763.2% in the fourth quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock valued at $239,829,000 after purchasing an additional 915,091 shares in the last quarter. 1832 Asset Management L.P. increased its stake in shares of General Dynamics by 3,645.4% in the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after acquiring an additional 543,672 shares during the last quarter. Finally, FMR LLC increased its stake in shares of General Dynamics by 13.7% in the third quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after acquiring an additional 275,947 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Argus upped their price target on shares of General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Citigroup upped their price target on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Sanford C. Bernstein increased their target price on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Finally, StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $300.63.

General Dynamics Trading Up 0.7 %

Shares of NYSE:GD opened at $293.83 on Tuesday. The company has a market cap of $80.62 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.66 and a beta of 0.64. The stock’s 50-day moving average is $292.62 and its 200-day moving average is $275.28. General Dynamics Co. has a 52-week low of $209.25 and a 52-week high of $302.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same period in the prior year, the business posted $2.64 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts predict that General Dynamics Co. will post 14.55 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s payout ratio is presently 46.33%.

Insider Activity at General Dynamics

In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’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 owns 79,255 shares in the company, valued at $23,630,670.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the completion of the transaction, the director now owns 5,518 shares in the company, valued at $1,589,184. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’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 transaction, the chief financial officer now owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,486 shares of company stock worth $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.