B. Riley Wealth Advisors Inc. Reduces Stock Position in General Dynamics Co. (NYSE:GD)

B. Riley Wealth Advisors Inc. lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,303 shares of the aerospace company’s stock after selling 1,140 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in General Dynamics were worth $1,896,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of General Dynamics during the fourth quarter valued at approximately $728,284,000. Wellington Management Group LLP boosted its holdings in 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 acquiring an additional 1,755,276 shares in the last quarter. International Assets Investment Management LLC increased its position in General Dynamics by 10,763.2% during the 4th 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 during the period. 1832 Asset Management L.P. raised its holdings in General Dynamics by 3,645.4% in the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after purchasing an additional 543,672 shares in the last quarter. Finally, FMR LLC lifted its position in shares of General Dynamics by 13.7% in the 3rd quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after purchasing an additional 275,947 shares during the period. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GD. Wells Fargo & Company boosted their price target on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Citigroup upped their target price on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Argus raised their target price on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Susquehanna upped their price target on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Finally, Sanford C. Bernstein increased their price objective on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $300.63.

General Dynamics Price Performance

Shares of NYSE:GD opened at $298.00 on Wednesday. The business has a fifty day moving average price of $292.81 and a 200-day moving average price of $275.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The company has a market capitalization of $81.76 billion, a PE ratio of 24.31, a PEG ratio of 1.66 and a beta of 0.64. General Dynamics Co. has a 1-year low of $209.25 and a 1-year high of $302.42.

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

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a yield of 1.91%. General Dynamics’s payout ratio is currently 46.33%.

Insider Activity at General Dynamics

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,486 shares of company stock valued at $34,391,642. 1.60% of the stock is owned by corporate insiders.

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.