Crossmark Global Holdings Inc. Buys 6,313 Shares of General Dynamics Corporation $GD

Crossmark Global Holdings Inc. lifted its stake in shares of General Dynamics Corporation (NYSE:GD) by 17.0% in the fourth quarter, HoldingsChannel reports. The fund owned 43,403 shares of the aerospace company’s stock after acquiring an additional 6,313 shares during the period. Crossmark Global Holdings Inc.’s holdings in General Dynamics were worth $14,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Joule Financial LLC boosted its stake in General Dynamics by 4.3% in the 4th quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock worth $237,000 after purchasing an additional 29 shares during the period. Brown Miller Wealth Management LLC boosted its stake in General Dynamics by 0.3% in the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock worth $2,993,000 after purchasing an additional 29 shares during the period. First Financial Bankshares Inc boosted its stake in General Dynamics by 2.6% in the 3rd quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company’s stock worth $408,000 after purchasing an additional 30 shares during the period. Steph & Co. boosted its stake in General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 30 shares during the period. Finally, Revolve Wealth Partners LLC boosted its stake in General Dynamics by 3.3% in the 4th quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock worth $329,000 after purchasing an additional 31 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Mark Lagrand Burns sold 10,153 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $354.95, for a total transaction of $3,603,807.35. Following the sale, the executive vice president owned 38,975 shares in the company, valued at approximately $13,834,176.25. This represents a 20.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total value of $1,350,016.50. Following the sale, the executive vice president owned 44,767 shares in the company, valued at $15,825,134.50. The trade was a 7.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 51,260 shares of company stock worth $18,133,971. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GD shares. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a research note on Tuesday, April 21st. Citigroup dropped their price target on General Dynamics from $389.00 to $380.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Wolfe Research upped their price target on General Dynamics from $400.00 to $415.00 and gave the stock an “outperform” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. upped their price target on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley upped their price target on General Dynamics from $410.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $388.20.

General Dynamics Stock Performance

NYSE:GD opened at $346.48 on Friday. The stock’s fifty day moving average is $345.45 and its 200 day moving average is $346.69. General Dynamics Corporation has a fifty-two week low of $267.39 and a fifty-two week high of $369.70. The firm has a market capitalization of $93.70 billion, a PE ratio of 21.80, a PEG ratio of 2.16 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the prior year, the firm posted $3.66 EPS. General Dynamics’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that General Dynamics Corporation will post 16.62 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were issued a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, April 10th. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. General Dynamics’s payout ratio is currently 40.03%.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.