PAX Financial Group LLC Has $573,000 Position in General Dynamics Co. (NYSE:GD)

PAX Financial Group LLC lessened its stake in General Dynamics Co. (NYSE:GD) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,030 shares of the aerospace company’s stock after selling 50 shares during the quarter. PAX Financial Group LLC’s holdings in General Dynamics were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Eudaimonia Partners LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth $240,000. Benjamin F. Edwards & Company Inc. increased its position in shares of General Dynamics by 188.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 40,830 shares of the aerospace company’s stock valued at $10,602,000 after buying an additional 26,668 shares in the last quarter. Pacer Advisors Inc. raised its stake in General Dynamics by 99.3% during the 4th quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock worth $7,542,000 after buying an additional 14,468 shares during the period. Principal Securities Inc. bought a new position in General Dynamics during the fourth quarter worth about $1,056,000. Finally, Gladstone Capital Management LLP acquired a new position in General Dynamics in the fourth quarter valued at about $3,869,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

General Dynamics stock traded up $3.34 during trading hours on Tuesday, hitting $294.55. The company had a trading volume of 1,061,850 shares, compared to its average volume of 1,050,170. General Dynamics Co. has a one year low of $213.47 and a one year high of $302.75. The firm has a market cap of $80.81 billion, a PE ratio of 24.03, a PEG ratio of 1.65 and a beta of 0.60. The firm has a 50-day moving average of $293.11 and a 200 day moving average of $281.54. 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 announced its earnings results 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). The firm had revenue of $10.73 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $2.64 EPS. On average, sell-side analysts expect that General Dynamics Co. will post 14.54 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given 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 dividend yield of 1.93%. General Dynamics’s payout ratio is presently 46.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GD shares. Sanford C. Bernstein raised their price target on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. Wells Fargo & Company increased their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Susquehanna boosted their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their target price for the company from $305.00 to $335.00 in a research report on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $307.94.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP William A. Moss sold 21,050 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $294.85, for a total transaction of $6,206,592.50. Following the completion of the sale, the vice president now owns 16,624 shares of the company’s stock, valued at $4,901,586.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The disclosure for this sale can be found here. Insiders have sold a total of 118,486 shares of company stock worth $34,391,642 in the last quarter. Corporate insiders own 1.52% of the company’s stock.

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.