General Dynamics Co. (NYSE:GD) Shares Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 8.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,689 shares of the aerospace company’s stock after selling 158 shares during the period. Teamwork Financial Advisors LLC’s holdings in General Dynamics were worth $477,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Accel Wealth Management grew its position in shares of General Dynamics by 19.4% during the 1st quarter. Accel Wealth Management now owns 1,577 shares of the aerospace company’s stock valued at $445,000 after acquiring an additional 256 shares during the period. First Trust Direct Indexing L.P. lifted its stake in General Dynamics by 20.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 7,798 shares of the aerospace company’s stock valued at $2,203,000 after buying an additional 1,325 shares in the last quarter. Wealthstar Advisors LLC purchased a new position in General Dynamics in the 1st quarter valued at about $207,000. Cornerstone Wealth Management LLC lifted its stake in General Dynamics by 16.8% in the 1st quarter. Cornerstone Wealth Management LLC now owns 5,393 shares of the aerospace company’s stock worth $1,524,000 after purchasing an additional 777 shares in the last quarter. Finally, Norden Group LLC lifted its stake in General Dynamics by 1,326.8% in the 1st quarter. Norden Group LLC now owns 87,864 shares of the aerospace company’s stock worth $24,821,000 after purchasing an additional 81,706 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction on Friday, April 26th. The shares were 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 directly owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction on Friday, April 26th. The shares were 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 directly owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. In the last three months, insiders sold 118,486 shares of company stock valued at $34,391,642. Insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD opened at $284.88 on Friday. The company has a fifty day simple moving average of $294.14 and a two-hundred day simple moving average of $278.64. The company has a market cap of $78.16 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 1.62 and a beta of 0.60. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a 52 week low of $211.94 and a 52 week high of $302.75.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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). The firm had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $2.64 earnings per share. As a group, equities analysts anticipate that General Dynamics Co. will post 14.56 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend 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 Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Susquehanna raised their target price on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Sanford C. Bernstein raised 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 note on Thursday, May 23rd. JPMorgan Chase & Co. raised their target price on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird restated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.