Fairhaven Wealth Management LLC Acquires 94 Shares of General Dynamics Co. (NYSE:GD)

Fairhaven Wealth Management LLC boosted its holdings in General Dynamics Co. (NYSE:GD) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,813 shares of the aerospace company’s stock after buying an additional 94 shares during the quarter. Fairhaven Wealth Management LLC’s holdings in General Dynamics were worth $1,077,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Eudaimonia Partners LLC bought a new position in General Dynamics during the 4th quarter worth approximately $240,000. Benjamin F. Edwards & Company Inc. raised its holdings in General Dynamics by 188.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 40,830 shares of the aerospace company’s stock worth $10,602,000 after purchasing an additional 26,668 shares during the last quarter. Pacer Advisors Inc. raised its holdings 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 purchasing an additional 14,468 shares during the last quarter. Principal Securities Inc. bought a new position in General Dynamics during the 4th quarter worth approximately $1,056,000. Finally, Gladstone Capital Management LLP bought a new position in General Dynamics during the 4th quarter worth approximately $3,869,000. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics 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 sale, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 sale, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The disclosure for this sale can be found here. Insiders have sold 118,486 shares of company stock valued at $34,391,642 in the last three months. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GD has been the subject of several analyst reports. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their price objective on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Royal Bank of Canada reduced their price objective on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Argus raised their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $305.00 to $335.00 in a research report on Monday, April 29th. Five 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, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $305.56.

General Dynamics Stock Down 0.6 %

GD traded down $1.77 during mid-day trading on Friday, reaching $281.68. 1,039,502 shares of the stock were exchanged, compared to its average volume of 936,272. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. The stock has a market capitalization of $77.28 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.60. The company has a 50 day moving average price of $294.08 and a two-hundred day moving average price of $278.84. General Dynamics Co. has a 1 year low of $211.94 and a 1 year high of $302.75.

General Dynamics (NYSE:GD) last posted its quarterly earnings data 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 firm 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%. General Dynamics’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.64 earnings per share. As a group, research analysts anticipate that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Dividend Announcement

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 issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, July 5th. General Dynamics’s dividend payout ratio is 46.33%.

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.