Gold Investment Management Ltd. Has $1.65 Million Position in General Dynamics Co. (NYSE:GD)

Gold Investment Management Ltd. grew its stake in shares of General Dynamics Co. (NYSE:GD) by 2.0% in the first quarter, HoldingsChannel.com reports. The fund owned 5,825 shares of the aerospace company’s stock after acquiring an additional 116 shares during the quarter. Gold Investment Management Ltd.’s holdings in General Dynamics were worth $1,646,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of GD. Legend Financial Advisors Inc. increased its holdings in General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 36 shares in the last quarter. Diversified Trust Co boosted its position in shares of General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after purchasing an additional 36 shares in the last quarter. Fulton Bank N.A. boosted its holdings in General Dynamics by 1.1% in the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after acquiring an additional 37 shares in the last quarter. Copperwynd Financial LLC boosted its holdings in General Dynamics by 3.7% in the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 38 shares in the last quarter. Finally, Woodward Diversified Capital LLC boosted its holdings in General Dynamics by 2.3% in the fourth quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 39 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GD has been the subject of several analyst reports. Argus increased their price objective on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company raised their price target on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $305.00 to $335.00 in a research note on Monday, April 29th. Barclays lifted their price target on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Citigroup lifted their price objective on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $305.56.

General Dynamics Stock Performance

Shares of GD stock traded up $2.40 during mid-day trading on Wednesday, reaching $281.91. The stock had a trading volume of 955,163 shares, compared to its average volume of 1,055,214. The business’s fifty day moving average is $293.69 and its 200-day moving average is $279.61. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The firm has a market cap of $77.35 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.60 and a beta of 0.60. General Dynamics Co. has a 1-year low of $212.58 and a 1-year high of $302.75.

General Dynamics (NYSE:GD) last issued its quarterly earnings results 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 business 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%. The business’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 company posted $2.64 EPS. On average, research analysts forecast that General Dynamics Co. will post 14.56 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid 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 yield of 2.01%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insiders Place Their Bets

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s 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 transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the sale, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 768,977 shares in the company, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock valued at $34,391,642 over the last quarter. 1.60% of the stock is owned by insiders.

About General Dynamics

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.