BKM Wealth Management LLC Boosts Holdings in General Dynamics Co. (NYSE:GD)

BKM Wealth Management LLC boosted its position in shares of General Dynamics Co. (NYSE:GD) by 18.3% in the first quarter, HoldingsChannel reports. The fund owned 5,636 shares of the aerospace company’s stock after purchasing an additional 870 shares during the quarter. BKM Wealth Management LLC’s holdings in General Dynamics were worth $1,592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of General Dynamics by 0.6% in the third quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock worth $4,955,023,000 after buying an additional 133,061 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of General Dynamics by 12.0% in the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after buying an additional 1,755,276 shares during the last quarter. Sanders Capital LLC raised its holdings in shares of General Dynamics by 3.7% in the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock worth $1,081,488,000 after buying an additional 147,800 shares during the last quarter. Norges Bank purchased a new position in shares of General Dynamics in the fourth quarter worth $728,284,000. Finally, Northern Trust Corp raised its holdings in shares of General Dynamics by 1.1% in the fourth quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock worth $592,764,000 after buying an additional 24,395 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the transaction, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. Insiders have sold 118,486 shares of company stock valued at $34,391,642 over the last ninety days. Company insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GD. Wells Fargo & Company increased their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. Sanford C. Bernstein increased their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Finally, Susquehanna increased their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and an average target price of $303.24.

General Dynamics Price Performance

Shares of NYSE:GD traded down $2.24 during midday trading on Monday, hitting $287.90. The company’s stock had a trading volume of 395,083 shares, compared to its average volume of 1,049,942. The business’s 50 day simple moving average is $294.27 and its 200 day simple moving average is $278.06. 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 company has a market cap of $78.99 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 1.65 and a beta of 0.64. General Dynamics Co. has a 12-month low of $211.94 and a 12-month high of $302.75.

General Dynamics (NYSE:GD) last posted its quarterly 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). The business had revenue of $10.73 billion during 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%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.64 earnings per share. On average, analysts forecast that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Dividend Announcement

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

General Dynamics Company 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.