Mission Wealth Management LP Increases Stake in General Dynamics Co. (NYSE:GD)

Mission Wealth Management LP raised its stake in General Dynamics Co. (NYSE:GD) by 495.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,700 shares of the aerospace company’s stock after purchasing an additional 8,902 shares during the period. Mission Wealth Management LP’s holdings in General Dynamics were worth $2,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC boosted its holdings in General Dynamics by 0.4% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock valued at $2,812,000 after acquiring an additional 41 shares during the period. Cornercap Investment Counsel Inc. boosted 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 valued at $2,695,000 after acquiring an additional 41 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in General Dynamics by 6.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 687 shares of the aerospace company’s stock valued at $152,000 after acquiring an additional 42 shares during the period. Raleigh Capital Management Inc. raised its position in General Dynamics by 2.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,846 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 42 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its position in General Dynamics by 3.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,304 shares of the aerospace company’s stock valued at $339,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on GD. Citigroup increased their price target on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Wells Fargo & Company increased their price target on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. increased their price target on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. StockNews.com raised General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Finally, Susquehanna raised their target price on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. Four research 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. Based on data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus price target of $297.06.

General Dynamics Trading Down 0.2 %

Shares of GD stock opened at $287.16 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $296.50. The company has a market capitalization of $78.79 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 1.79 and a beta of 0.68. The business’s 50 day moving average is $281.59 and its two-hundred day moving average is $262.72.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.64 earnings per share. Equities analysts forecast that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.98%. This is an increase 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%.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s 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 transaction, the chief executive officer now directly owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s 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 transaction, 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 legal filing 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 value of $3,914,215.17. Following the completion of the transaction, the vice president now owns 103,345 shares of the company’s stock, 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.

General Dynamics Company 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.