General Dynamics Co. (NYSE:GD) Stock Holdings Increased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its stake in General Dynamics Co. (NYSE:GD) by 16.8% in the first quarter, Holdings Channel.com reports. The firm owned 5,393 shares of the aerospace company’s stock after acquiring an additional 777 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in General Dynamics were worth $1,524,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in General Dynamics in the fourth quarter worth approximately $728,284,000. Wellington Management Group LLP increased 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 worth $3,615,185,000 after buying an additional 1,755,276 shares during the last quarter. International Assets Investment Management LLC increased its holdings in 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 worth $239,829,000 after buying an additional 915,091 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in 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 buying an additional 543,672 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in General Dynamics in the fourth quarter worth approximately $43,733,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GD has been the topic of several analyst reports. The Goldman Sachs Group increased their price target on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Sanford C. Bernstein increased their price target on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and increased their price target for the company from $305.00 to $335.00 in a report on Monday, April 29th. Barclays increased their price target on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Citigroup increased their price target on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $305.56.

Insider Buying and Selling at General Dynamics

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, 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 SEC, which is accessible through this link. In other news, VP William A. Moss sold 21,050 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $294.85, for a total value of $6,206,592.50. Following the completion of the sale, the vice president now directly owns 16,624 shares in the company, valued at $4,901,586.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,486 shares of company stock valued at $34,391,642. 1.60% of the stock is currently owned by company insiders.

General Dynamics Stock Down 0.3 %

Shares of GD stock opened at $284.88 on Friday. The stock has a market cap of $78.16 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 1.62 and a beta of 0.60. General Dynamics Co. has a one year low of $211.94 and a one year high of $302.75. The stock has a fifty day moving average price of $294.14 and a 200 day moving average price of $278.64. 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 issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The company 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 was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.64 earnings per share. Analysts predict that General Dynamics Co. will post 14.56 earnings per share for the current year.

General Dynamics Announces Dividend

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

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.