Naviter Wealth LLC Purchases Shares of 842 General Dynamics Co. (NYSE:GD)

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC lifted its holdings in shares of General Dynamics by 0.4% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock worth $2,812,000 after purchasing an additional 41 shares during the period. Cornercap Investment Counsel Inc. lifted its holdings in General Dynamics by 0.4% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 10,377 shares of the aerospace company’s stock worth $2,695,000 after buying an additional 41 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of General Dynamics by 6.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 687 shares of the aerospace company’s stock valued at $152,000 after buying an additional 42 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in shares of General Dynamics by 2.3% in the third quarter. Raleigh Capital Management Inc. now owns 1,846 shares of the aerospace company’s stock valued at $408,000 after buying an additional 42 shares during the period. Finally, Resonant Capital Advisors LLC raised its position in shares of General Dynamics by 3.3% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,304 shares of the aerospace company’s stock worth $339,000 after acquiring an additional 42 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

Shares of NYSE:GD opened at $287.16 on Wednesday. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $296.50. The stock’s 50 day moving average is $281.59 and its 200-day moving average is $262.72. 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 firm has a market capitalization of $78.79 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 1.79 and a beta of 0.68.

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 analysts’ consensus estimates 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 analyst estimates of $10.26 billion. During the same quarter in the prior year, the business earned $2.64 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GD shares. Barclays increased their target price on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Susquehanna lifted their target price 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. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the company from $305.00 to $335.00 in a report on Monday. Alembic Global Advisors downgraded General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target for the company. in a report on Monday, January 29th. Finally, Argus boosted their price objective on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $297.06.

Insider Buying and Selling at General Dynamics

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction on Friday, April 26th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction that occurred 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 transaction, 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 through this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction that occurred on 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 sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

General Dynamics 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.