FFT Wealth Management LLC Makes New Investment in General Dynamics Co. (NYSE:GD)

FFT Wealth Management LLC bought a new position in shares of General Dynamics Co. (NYSE:GD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 874 shares of the aerospace company’s stock, valued at approximately $227,000.

Other institutional investors also recently bought and sold shares of the company. Briaud Financial Planning Inc purchased a new stake in shares of General Dynamics in the third quarter valued at $27,000. Rakuten Securities Inc. purchased a new stake in shares of General Dynamics in the fourth quarter valued at $38,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of General Dynamics in the fourth quarter valued at $38,000. Operose Advisors LLC purchased a new position in General Dynamics during the third quarter worth about $40,000. Finally, Rational Advisors LLC purchased a new position in General Dynamics during the third quarter worth about $42,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

GD traded down $3.21 on Thursday, hitting $283.32. The company had a trading volume of 137,348 shares, compared to its average volume of 1,105,832. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $296.50. The stock has a market cap of $77.73 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 1.79 and a beta of 0.66. The company’s fifty day moving average price is $281.88 and its 200 day moving average price is $262.88. 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 results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same quarter last year, the firm earned $2.64 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts predict that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.00%. General Dynamics’s payout ratio is currently 46.33%.

Insider Activity

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 transaction of $14,182,325.00. Following 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 SEC, which is accessible through the SEC website. In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction on Monday, April 29th. The stock was 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 in the company, valued at $29,816,065.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wells Fargo & Company increased their target price on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price on the stock. in a research report on Monday, January 29th. Argus raised their target price on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday. Susquehanna lifted their price target on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. Finally, Citigroup lifted their price target on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.