Cypress Wealth Services LLC Takes Position in General Dynamics Co. (NYSE:GD)

Cypress Wealth Services LLC bought a new stake in General Dynamics Co. (NYSE:GD) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 862 shares of the aerospace company’s stock, valued at approximately $243,000.

A number of other institutional investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in General Dynamics by 2.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock worth $41,734,000 after acquiring an additional 3,531 shares in the last quarter. Janiczek Wealth Management LLC raised its position in General Dynamics by 4.3% in the first quarter. Janiczek Wealth Management LLC now owns 2,095 shares of the aerospace company’s stock worth $592,000 after acquiring an additional 87 shares in the last quarter. Stonebridge Capital Management Inc. raised its position in General Dynamics by 0.9% in the first quarter. Stonebridge Capital Management Inc. now owns 26,048 shares of the aerospace company’s stock worth $7,358,000 after acquiring an additional 235 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in General Dynamics by 114.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,032 shares of the aerospace company’s stock worth $857,000 after acquiring an additional 1,620 shares in the last quarter. Finally, Revolve Wealth Partners LLC raised its position in General Dynamics by 5.7% in the first quarter. Revolve Wealth Partners LLC now owns 878 shares of the aerospace company’s stock worth $248,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and upped their target price for the company from $305.00 to $335.00 in a report on Monday, April 29th. Sanford C. Bernstein upped their target price on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. The Goldman Sachs Group upped their target price on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, BTIG Research assumed coverage on General Dynamics in a report on Wednesday. They issued a “buy” rating and a $345.00 target price on the stock. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and an average price target of $303.24.

General Dynamics Price Performance

Shares of GD traded down $2.03 during trading hours on Thursday, reaching $292.50. 773,624 shares of the company traded hands, compared to its average volume of 1,044,919. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $80.25 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.68 and a beta of 0.64. General Dynamics Co. has a fifty-two week low of $209.25 and a fifty-two week high of $302.75. The stock has a fifty day simple moving average of $294.10 and a 200 day simple moving average of $277.37.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter last year, the company posted $2.64 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts predict that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm 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 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 1.94%. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Buying and Selling

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’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 transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s 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 transaction, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’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 transaction, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,486 shares of company stock worth $34,391,642. 1.52% of the stock is owned by company 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.