Cambridge Investment Research Advisors Inc. Purchases 8,981 Shares of General Dynamics Co. (NYSE:GD)

Cambridge Investment Research Advisors Inc. raised its position in General Dynamics Co. (NYSE:GD) by 14.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,396 shares of the aerospace company’s stock after purchasing an additional 8,981 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in General Dynamics were worth $18,539,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC purchased a new stake in shares of General Dynamics in the 4th quarter valued at about $25,000. Rakuten Securities Inc. purchased a new position in General Dynamics in the 4th quarter worth approximately $38,000. Wetzel Investment Advisors Inc. bought a new position in shares of General Dynamics in the 4th quarter worth $38,000. Operose Advisors LLC purchased a new stake in shares of General Dynamics during the 3rd quarter valued at $40,000. Finally, Rational Advisors LLC bought a new stake in shares of General Dynamics during the 3rd quarter worth $42,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Argus raised their price target on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Wells Fargo & Company upped their target price on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price target on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Alembic Global Advisors lowered shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective for the company. in a report on Monday, January 29th. Finally, The Goldman Sachs Group boosted their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.63.

General Dynamics Price Performance

GD traded up $3.10 during trading on Friday, hitting $299.62. 784,155 shares of the company traded hands, compared to its average volume of 962,608. The company has a market cap of $82.20 billion, a PE ratio of 24.44, a P/E/G ratio of 1.69 and a beta of 0.67. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $301.48. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The stock’s 50-day simple moving average is $289.09 and its two-hundred day simple moving average is $269.22.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 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 the consensus estimate of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.64 earnings per share. As a group, sell-side analysts anticipate that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were paid a dividend of $1.42 per share. 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 1.90%. The ex-dividend date was Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Insider Transactions at General Dynamics

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the sale, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at $23,630,670.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark Lagrand Burns sold 12,089 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $296.59, for a total transaction of $3,585,476.51. Following the completion of the sale, the vice president now owns 64,132 shares in the company, valued at $19,020,909.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,486 shares of company stock worth $34,391,642. Insiders own 1.52% of the company’s stock.

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.