Embree Financial Group Has $1.91 Million Position in General Dynamics Co. (NYSE:GD)

Embree Financial Group reduced its position in shares of General Dynamics Co. (NYSE:GD) by 3.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,744 shares of the aerospace company’s stock after selling 226 shares during the quarter. Embree Financial Group’s holdings in General Dynamics were worth $1,905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its position in General Dynamics by 26.0% during the third quarter. Moneta Group Investment Advisors LLC now owns 2,415 shares of the aerospace company’s stock valued at $534,000 after purchasing an additional 499 shares during the last quarter. First Foundation Advisors boosted its position in General Dynamics by 8.0% during the third quarter. First Foundation Advisors now owns 1,480 shares of the aerospace company’s stock valued at $327,000 after purchasing an additional 110 shares during the last quarter. Belpointe Asset Management LLC boosted its position in General Dynamics by 9.3% during the third quarter. Belpointe Asset Management LLC now owns 1,409 shares of the aerospace company’s stock valued at $311,000 after purchasing an additional 120 shares during the last quarter. Harbour Investments Inc. boosted its position in General Dynamics by 58.8% during the third quarter. Harbour Investments Inc. now owns 2,099 shares of the aerospace company’s stock valued at $464,000 after purchasing an additional 777 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new position in General Dynamics during the third quarter valued at approximately $51,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Price Performance

General Dynamics stock traded up $2.40 during mid-day trading on Wednesday, reaching $281.91. 955,163 shares of the company were exchanged, compared to its average volume of 1,055,214. The company has a fifty day simple moving average of $293.69 and a 200-day simple moving average of $279.61. General Dynamics Co. has a 12 month low of $212.58 and a 12 month high of $302.75. 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 firm has a market cap of $77.35 billion, a PE ratio of 22.99, a PEG ratio of 1.60 and a beta of 0.60.

General Dynamics (NYSE:GD) last posted 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 the consensus estimate of $10.26 billion. During the same quarter last year, the business earned $2.64 EPS. General Dynamics’s revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts expect that General Dynamics Co. will post 14.56 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 2.01%. General Dynamics’s payout ratio is 46.33%.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction on 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 owns 768,977 shares in the company, valued at approximately $218,773,956.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction on 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 owns 768,977 shares in the company, valued at approximately $218,773,956.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction on 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 sale, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,486 shares of company stock worth $34,391,642. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GD. Sanford C. Bernstein raised their price objective on General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Royal Bank of Canada cut their price objective on General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. raised their price objective on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Argus raised their price objective on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Finally, Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the company from $305.00 to $335.00 in a research report on Monday, April 29th. Five research 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.

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.