Accel Wealth Management Grows Stock Holdings in General Dynamics Co. (NYSE:GD)

Accel Wealth Management lifted its stake in General Dynamics Co. (NYSE:GD) by 19.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,577 shares of the aerospace company’s stock after purchasing an additional 256 shares during the period. Accel Wealth Management’s holdings in General Dynamics were worth $445,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GD. First Trust Direct Indexing L.P. lifted its position in shares of General Dynamics by 20.5% during the first quarter. First Trust Direct Indexing L.P. now owns 7,798 shares of the aerospace company’s stock valued at $2,203,000 after buying an additional 1,325 shares during the last quarter. Wealthstar Advisors LLC purchased a new stake in shares of General Dynamics during the first quarter valued at about $207,000. Cornerstone Wealth Management LLC lifted its position in shares of General Dynamics by 16.8% during the first quarter. Cornerstone Wealth Management LLC now owns 5,393 shares of the aerospace company’s stock valued at $1,524,000 after buying an additional 777 shares during the last quarter. Norden Group LLC raised its position in shares of General Dynamics by 1,326.8% in the 1st quarter. Norden Group LLC now owns 87,864 shares of the aerospace company’s stock valued at $24,821,000 after purchasing an additional 81,706 shares during the last quarter. Finally, Community Bank & Trust Waco Texas raised its position in shares of General Dynamics by 0.8% in the 1st quarter. Community Bank & Trust Waco Texas now owns 19,548 shares of the aerospace company’s stock valued at $5,522,000 after purchasing an additional 151 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Down 0.3 %

Shares of General Dynamics stock traded down $0.93 on Thursday, reaching $284.88. 656,719 shares of the company were exchanged, compared to its average volume of 976,308. General Dynamics Co. has a 1-year low of $211.94 and a 1-year high of $302.75. The company has a market cap of $78.16 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 1.63 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The stock’s 50 day moving average price is $294.14 and its 200-day moving average price is $278.60.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same period in the prior year, the firm 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, equities analysts forecast that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Citigroup increased their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company increased their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Argus increased their price target on shares of General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Barclays raised their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, BTIG Research assumed coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.56.

Insider Buying and Selling at General Dynamics

In related news, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total transaction of $740,160.00. Following the transaction, the director now owns 5,518 shares of the company’s stock, valued at $1,589,184. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the transaction, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leon Rudy F. De sold 2,570 shares of the company’s 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 in the company, valued at approximately $1,589,184. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,486 shares of company stock worth $34,391,642. 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.