Naviter Wealth LLC Purchases New Shares in General Dynamics Co. (NYSE:GD)

Naviter Wealth LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 842 shares of the aerospace company’s stock, valued at approximately $219,000.

A number of other hedge funds have also recently modified their holdings of GD. Gilbert & Cook Inc. boosted its position in shares of General Dynamics by 5.1% in the 4th quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company’s stock worth $652,000 after purchasing an additional 122 shares in the last quarter. Silver Oak Securities Incorporated raised its stake in General Dynamics by 533.3% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,197 shares of the aerospace company’s stock valued at $311,000 after buying an additional 1,008 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its holdings in General Dynamics by 2.9% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,399 shares of the aerospace company’s stock worth $623,000 after acquiring an additional 67 shares in the last quarter. Principle Wealth Partners LLC grew its stake in shares of General Dynamics by 2.2% in the fourth quarter. Principle Wealth Partners LLC now owns 28,294 shares of the aerospace company’s stock worth $7,347,000 after acquiring an additional 596 shares during the last quarter. Finally, Paradiem LLC increased its holdings in shares of General Dynamics by 38.7% during the fourth quarter. Paradiem LLC now owns 31,975 shares of the aerospace company’s stock valued at $8,303,000 after acquiring an additional 8,914 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.2 %

General Dynamics stock opened at $287.16 on Wednesday. General Dynamics Co. has a 52-week low of $202.35 and a 52-week high of $296.50. The company has a market cap of $78.79 billion, a P/E ratio of 23.42, a P/E/G ratio of 1.79 and a beta of 0.68. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $281.59 and a two-hundred day simple moving average of $262.72.

General Dynamics (NYSE:GD) last announced its earnings results 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 net margin of 7.85% and a return on equity of 16.48%. The business 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 firm posted $2.64 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts predict that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.98%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio is 46.33%.

Insider Activity at General Dynamics

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the transaction, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other General Dynamics 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 owns 768,977 shares in the company, valued at approximately $218,773,956.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GD. StockNews.com raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group raised their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada lowered their price objective on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. lifted their target price on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, UBS Group upped their price target on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $297.06.

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.