Summit Global Investments Has $604,000 Stock Position in General Dynamics Co. (NYSE:GD)

Summit Global Investments reduced its position in General Dynamics Co. (NYSE:GD) by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,327 shares of the aerospace company’s stock after selling 305 shares during the quarter. Summit Global Investments’ holdings in General Dynamics were worth $604,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GD. Briaud Financial Planning Inc acquired a new stake in General Dynamics in the third quarter valued at about $27,000. Rakuten Securities Inc. acquired a new position in shares of General Dynamics during the fourth quarter worth $38,000. Wetzel Investment Advisors Inc. bought a new position in shares of General Dynamics in the 4th quarter valued at $38,000. Operose Advisors LLC bought a new stake in General Dynamics during the 3rd quarter worth $40,000. Finally, Rational Advisors LLC acquired a new position in General Dynamics in the 3rd quarter worth about $42,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.3 %

Shares of NYSE:GD opened at $288.14 on Friday. The business’s 50 day moving average is $282.47 and its 200 day moving average is $263.37. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $296.50. The stock has a market cap of $79.05 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.80 and a beta of 0.67. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

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. On average, sell-side analysts forecast 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. Shareholders of record on Friday, April 12th will be paid a $1.42 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. This represents a $5.68 annualized dividend and a yield of 1.97%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GD. Argus raised their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 29th. Wells Fargo & Company upped 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. UBS Group boosted their price target on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. The Goldman Sachs Group increased 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. Finally, Barclays boosted their target price on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus price target of $300.53.

Insiders Place Their Bets

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares of the company’s stock, 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. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the transaction, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 transaction of $14,182,325.00. Following the completion of the transaction, 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. 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.