Shelton Wealth Management LLC Buys 2,528 Shares of General Dynamics Corporation $GD

Shelton Wealth Management LLC increased its position in shares of General Dynamics Corporation (NYSE:GD) by 126.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,532 shares of the aerospace company’s stock after buying an additional 2,528 shares during the quarter. Shelton Wealth Management LLC’s holdings in General Dynamics were worth $1,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. Joule Financial LLC lifted its stake in General Dynamics by 4.3% during the fourth 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 raised its position 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 last quarter. Steph & Co. raised its holdings in General Dynamics by 65.2% during 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 last quarter. Revolve Wealth Partners LLC raised its position in shares of General Dynamics by 3.3% during the 4th quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock valued at $329,000 after acquiring an additional 31 shares during the last quarter. Finally, New Wave Wealth Advisors LLC boosted its stake in General Dynamics by 4.4% during the 4th quarter. New Wave Wealth Advisors LLC now owns 733 shares of the aerospace company’s stock worth $247,000 after acquiring an additional 31 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group upgraded General Dynamics from a “neutral” rating to a “buy” rating in a report on Thursday, June 11th. JPMorgan Chase & Co. increased their price objective on shares of General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Citigroup decreased their target price on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research note on Monday, May 18th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $380.00 to $400.00 in a research report on Thursday, June 11th. Finally, Weiss Ratings raised shares of General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $389.15.

General Dynamics Price Performance

GD stock traded down $0.36 during midday trading on Tuesday, reaching $376.52. The company had a trading volume of 111,720 shares, compared to its average volume of 1,377,999. The stock has a 50 day moving average price of $344.97 and a 200-day moving average price of $348.40. The company has a market capitalization of $101.82 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 2.31 and a beta of 0.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. General Dynamics Corporation has a 1-year low of $293.95 and a 1-year high of $380.71.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter last year, the business posted $3.66 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts expect that General Dynamics Corporation will post 16.63 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be issued a $1.59 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.7%. General Dynamics’s dividend payout ratio is 40.03%.

Insider Activity at General Dynamics

In other news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the sale, the executive vice president directly owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the sale, the director directly owned 10,643 shares in the company, valued at $3,884,695. The trade was a 33.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 78,190 shares of company stock valued at $27,041,022. 1.40% of the stock is owned by insiders.

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.