Levin Capital Strategies L.P. Acquires New Holdings in General Dynamics Co. (NYSE:GD)

Levin Capital Strategies L.P. acquired a new stake in General Dynamics Co. (NYSE:GD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,599 shares of the aerospace company’s stock, valued at approximately $415,000.

A number of other large investors have also added to or reduced their stakes in GD. Briaud Financial Planning Inc bought a new position in General Dynamics in the 3rd quarter valued at approximately $27,000. Rakuten Securities Inc. bought a new position in General Dynamics during the 4th quarter worth approximately $38,000. Wetzel Investment Advisors Inc. bought a new position in General Dynamics during the 4th quarter worth approximately $38,000. Operose Advisors LLC bought a new position in General Dynamics during the 3rd quarter worth approximately $40,000. Finally, Rational Advisors LLC bought a new position in General Dynamics during the 3rd quarter worth approximately $42,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.3 %

GD traded up $0.78 during mid-day trading on Friday, reaching $288.14. 973,927 shares of the stock were exchanged, compared to its average volume of 1,116,386. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. The stock has a market capitalization of $79.05 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.79 and a beta of 0.67. The company has a 50 day moving average price of $282.18 and a two-hundred day moving average price of $263.05. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $296.50.

General Dynamics (NYSE:GD) last posted 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). The firm had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. General Dynamics’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.64 earnings per share. As a group, research analysts anticipate that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s payout ratio is presently 46.33%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Alembic Global Advisors lowered shares of 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. Royal Bank of Canada lowered their price target on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $305.00 to $335.00 in a research report on Monday. Susquehanna raised their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. Finally, The Goldman Sachs Group raised their price objective on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $297.06.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction 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 approximately $218,773,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated 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 approximately $29,816,065.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated 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 $218,773,956.50. The disclosure for this sale can be found here. Company insiders own 1.52% 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.