Adell Harriman & Carpenter Inc. Takes Position in General Dynamics Co. (NYSE:GD)

Adell Harriman & Carpenter Inc. bought a new position in shares of General Dynamics Co. (NYSE:GD) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 849 shares of the aerospace company’s stock, valued at approximately $220,000.

Other hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its stake in General Dynamics by 1,406.1% in the third quarter. Exchange Traded Concepts LLC now owns 2,696 shares of the aerospace company’s stock valued at $596,000 after acquiring an additional 2,517 shares in the last quarter. Brookstone Capital Management boosted its position in shares of General Dynamics by 139.1% in the 3rd quarter. Brookstone Capital Management now owns 19,771 shares of the aerospace company’s stock valued at $4,704,000 after purchasing an additional 11,501 shares during the period. Commonwealth Equity Services LLC increased its position in General Dynamics by 2.2% during the third quarter. Commonwealth Equity Services LLC now owns 156,141 shares of the aerospace company’s stock worth $34,503,000 after buying an additional 3,367 shares during the period. Toews Corp ADV purchased a new stake in General Dynamics in the third quarter valued at approximately $773,000. Finally, Accurate Wealth Management LLC boosted its holdings in shares of General Dynamics by 9.0% in the third quarter. Accurate Wealth Management LLC now owns 2,825 shares of the aerospace company’s stock valued at $682,000 after acquiring an additional 234 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Price Performance

NYSE GD traded down $1.07 on Tuesday, reaching $286.72. 98,113 shares of the stock traded hands, compared to its average volume of 1,104,249. General Dynamics Co. has a 12 month low of $202.35 and a 12 month high of $296.50. 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’s fifty day simple moving average is $281.23 and its 200 day simple moving average is $262.41. The company has a market cap of $78.66 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 1.77 and a beta of 0.68.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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 net margin of 7.85% and a return on equity of 16.48%. The company had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same quarter last year, the company posted $2.64 EPS. General Dynamics’s revenue was up 8.6% on a year-over-year basis. As a group, research analysts predict that General Dynamics Co. will post 14.57 EPS for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Thursday, April 11th. 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 dividend yield of 1.98%. General Dynamics’s payout ratio is presently 46.33%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GD. The Goldman Sachs Group increased their target price on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Citigroup lifted their price objective on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Barclays raised their price target on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Susquehanna raised their target price on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Finally, StockNews.com upgraded shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.