Bogart Wealth LLC Has $7.92 Million Stake in General Dynamics Co. (NYSE:GD)

Bogart Wealth LLC lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 30,489 shares of the aerospace company’s stock after selling 92 shares during the period. Bogart Wealth LLC’s holdings in General Dynamics were worth $7,917,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GD. MeadowBrook Investment Advisors LLC acquired a new position in General Dynamics in the fourth quarter worth about $25,000. Briaud Financial Planning Inc bought a new position in shares of General Dynamics during the third quarter valued at $27,000. Rakuten Securities Inc. bought a new stake in shares of General Dynamics in the 4th quarter worth about $38,000. Wetzel Investment Advisors Inc. bought a new position in General Dynamics during the 4th quarter valued at about $38,000. Finally, Operose Advisors LLC bought a new stake in General Dynamics during the third quarter worth about $40,000. 86.14% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction that occurred on 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 directly owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Phebe N. Novakovic sold 49,850 shares of the 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 completion of the sale, the chief executive officer now directly owns 768,977 shares in the company, valued at $218,773,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares in the company, valued at $29,816,065.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,987 shares of company stock worth $18,836,700. Insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

GD stock traded up $2.17 during trading hours on Thursday, reaching $294.91. The stock had a trading volume of 63,707 shares, compared to its average volume of 1,095,951. The stock has a market capitalization of $80.91 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.80 and a beta of 0.67. The stock has a 50-day simple moving average of $283.23 and a 200 day simple moving average of $264.48. General Dynamics Co. has a fifty-two week low of $202.35 and a fifty-two week high of $296.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $10.26 billion. During the same quarter last year, the business earned $2.64 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Analysts predict that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 1.93%. General Dynamics’s dividend payout ratio is presently 46.33%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GD. UBS Group lifted their price objective on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Royal Bank of Canada dropped their target price on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Citigroup boosted their price objective on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company lifted their price objective on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $300.53.

About General Dynamics

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.