Connecticut Wealth Management LLC Grows Holdings in General Dynamics Co. (NYSE:GD)

Connecticut Wealth Management LLC grew its position in shares of General Dynamics Co. (NYSE:GD) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,478 shares of the aerospace company’s stock after buying an additional 53 shares during the quarter. Connecticut Wealth Management LLC’s holdings in General Dynamics were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in General Dynamics by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock valued at $4,955,023,000 after purchasing an additional 133,061 shares during the period. Wellington Management Group LLP increased its stake in shares of General Dynamics by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after purchasing an additional 1,755,276 shares during the last quarter. Sanders Capital LLC raised its holdings in shares of General Dynamics by 0.4% in the 3rd quarter. Sanders Capital LLC now owns 4,017,057 shares of the aerospace company’s stock worth $887,649,000 after purchasing an additional 17,061 shares during the period. FMR LLC lifted its stake in General Dynamics by 13.7% in the third quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock valued at $506,744,000 after purchasing an additional 275,947 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in General Dynamics by 4.5% during the third quarter. Northern Trust Corp now owns 2,258,362 shares of the aerospace company’s stock valued at $499,030,000 after purchasing an additional 97,789 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction that occurred 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 owns 768,977 shares in the company, valued at approximately $218,773,956.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The transaction was disclosed in a filing 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 that occurred on 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 of the company’s stock, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GD shares. Citigroup increased their price target on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. 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 report on Tuesday, April 16th. Wells Fargo & Company boosted their price objective on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective for the company. in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average price target of $300.53.

General Dynamics Price Performance

Shares of GD stock traded up $2.65 during trading hours on Monday, hitting $290.79. The stock had a trading volume of 326,572 shares, compared to its average volume of 1,106,905. The stock’s 50-day moving average price is $282.47 and its two-hundred day moving average price is $263.69. General Dynamics Co. has a one year low of $202.35 and a one year high of $296.50. The stock has a market capitalization of $79.78 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.80 and a beta of 0.67. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The firm had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same period last year, the company earned $2.64 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. Equities analysts forecast 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 given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.95%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

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.