Kestra Advisory Services LLC Boosts Stake in General Dynamics Co. (NYSE:GD)

Kestra Advisory Services LLC raised its stake in shares of General Dynamics Co. (NYSE:GD) by 27.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,666 shares of the aerospace company’s stock after acquiring an additional 10,631 shares during the period. Kestra Advisory Services LLC’s holdings in General Dynamics were worth $14,030,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics during the 1st quarter valued at approximately $25,000. MeadowBrook Investment Advisors LLC acquired a new position in General Dynamics during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new position in General Dynamics during the 4th quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in General Dynamics during the 1st quarter worth approximately $29,000. Finally, Legend Financial Advisors Inc. increased its position in General Dynamics by 46.8% during 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 during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Trading Down 0.7 %

Shares of General Dynamics stock traded down $2.02 during trading hours on Monday, reaching $288.38. 50,475 shares of the company’s stock were exchanged, compared to its average volume of 1,065,659. General Dynamics Co. has a 52-week low of $214.53 and a 52-week high of $302.75. The firm has a market capitalization of $79.12 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 1.66 and a beta of 0.60. The company has a fifty day moving average of $292.65 and a 200-day moving average of $282.60. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the prior year, the company earned $2.70 EPS. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. Sell-side analysts forecast that General Dynamics Co. will post 14.51 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GD shares. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a research report on Thursday. BTIG Research initiated coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Susquehanna upped their price target on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Finally, The Goldman Sachs Group upped their price target on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $311.33.

Insider Buying and Selling

In related news, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the transaction, the director now directly owns 5,518 shares of the company’s stock, valued at approximately $1,589,184. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the sale, the director now directly owns 5,518 shares in the company, valued at approximately $1,589,184. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Mark Lagrand Burns sold 6,016 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $296.58, for a total value of $1,784,225.28. Following the completion of the sale, the vice president now owns 76,221 shares of the company’s stock, valued at $22,605,624.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,069 shares of company stock valued at $16,295,101. 1.52% of the stock is currently owned by company insiders.

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.