CoreCap Advisors LLC Sells 126 Shares of General Dynamics Co. (NYSE:GD)

CoreCap Advisors LLC lessened its stake in General Dynamics Co. (NYSE:GD) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 4,049 shares of the aerospace company’s stock after selling 126 shares during the period. CoreCap Advisors LLC’s holdings in General Dynamics were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Financial Life Planners purchased a new position in shares of General Dynamics during the 4th quarter worth $25,000. Whipplewood Advisors LLC bought a new position in General Dynamics in the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Dynamics during the fourth quarter valued at $26,000. Heck Capital Advisors LLC bought a new stake in General Dynamics during the fourth quarter valued at about $28,000. Finally, Hoey Investments Inc. purchased a new stake in General Dynamics in the fourth quarter worth about $28,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. The trade was a 37.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GD. Cowen reiterated a “buy” rating on shares of General Dynamics in a research note on Thursday, April 24th. TD Securities lifted their price target on shares of General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 24th. TD Cowen decreased their price objective on shares of General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $293.00.

General Dynamics Trading Up 1.1 %

GD stock opened at $272.53 on Friday. The firm has a fifty day moving average price of $268.40 and a 200 day moving average price of $270.19. General Dynamics Co. has a fifty-two week low of $239.20 and a fifty-two week high of $316.90. The firm has a market cap of $73.15 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.69 and a beta of 0.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $2.88 EPS. Sell-side analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.20%. General Dynamics’s dividend payout ratio is 41.61%.

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.