GAMMA Investing LLC Raises Stake in General Dynamics Co. (NYSE:GD)

GAMMA Investing LLC raised its position in shares of General Dynamics Co. (NYSE:GD) by 8.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,499 shares of the aerospace company’s stock after purchasing an additional 202 shares during the period. GAMMA Investing LLC’s holdings in General Dynamics were worth $706,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $25,000. Scarborough Advisors LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $33,000. Voisard Asset Management Group Inc. bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $36,000. Finally, Rakuten Securities Inc. bought a new stake in General Dynamics in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the transaction, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the transaction, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the company’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 transaction, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,486 shares of company stock worth $34,391,642. 1.52% of the stock is owned by corporate insiders.

General Dynamics Stock Up 1.4 %

NYSE:GD opened at $298.00 on Thursday. General Dynamics Co. has a 1-year low of $209.25 and a 1-year high of $302.42. The company has a 50-day moving average of $292.97 and a 200 day moving average of $275.78. The firm has a market cap of $81.76 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 1.70 and a beta of 0.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87.

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). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same period last year, the company earned $2.64 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders 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 dividend payout ratio is presently 46.33%.

Wall Street Analysts Forecast Growth

GD has been the topic of several research reports. Citigroup boosted their price target on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Susquehanna boosted their price target on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. boosted their price target on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group lifted their price objective on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $300.63.

General Dynamics 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.