Silverlake Wealth Management LLC Buys 717 Shares of General Dynamics Co. (NYSE:GD)

Silverlake Wealth Management LLC increased its stake in shares of General Dynamics Co. (NYSE:GD) by 79.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,614 shares of the aerospace company’s stock after purchasing an additional 717 shares during the quarter. Silverlake Wealth Management LLC’s holdings in General Dynamics were worth $456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. MeadowBrook Investment Advisors LLC bought a new stake in shares of General Dynamics in the 4th quarter worth about $25,000. Richardson Financial Services Inc. bought a new stake in General Dynamics in the fourth quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in shares of General Dynamics during the first quarter valued at approximately $29,000. Legend Financial Advisors Inc. raised its holdings in shares of General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after buying an additional 36 shares during the period. Finally, Scarborough Advisors LLC bought a new stake in shares of General Dynamics during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction on 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 sale, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other General Dynamics news, VP Mark Lagrand Burns sold 12,089 shares of General Dynamics stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $296.59, for a total transaction of $3,585,476.51. Following the completion of the sale, the vice president now directly owns 64,132 shares in the company, valued at approximately $19,020,909.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the stock in a transaction on 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 completion of the sale, 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. Insiders sold 118,486 shares of company stock worth $34,391,642 in the last three months. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

GD stock opened at $285.84 on Wednesday. The firm has a 50-day simple moving average of $294.20 and a two-hundred day simple moving average of $278.32. 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 Co. has a one year low of $211.94 and a one year high of $302.75. The firm has a market cap of $78.42 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 1.65 and a beta of 0.60.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 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 for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the prior year, the company posted $2.64 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts forecast that General Dynamics Co. will post 14.56 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 1.99%. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Analyst Upgrades and Downgrades

GD has been the topic of several research analyst reports. Barclays upped their price objective on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Susquehanna upped their price target on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Citigroup lifted their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Wells Fargo & Company upped their target price on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, BTIG Research started coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.56.

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.