AlphaQuest LLC Purchases Shares of 6,825 General Dynamics Co. (NYSE:GD)

AlphaQuest LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,825 shares of the aerospace company’s stock, valued at approximately $1,798,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GD. Financial Life Planners acquired a new position in General Dynamics in the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new stake in shares of General Dynamics during the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of General Dynamics in the 4th quarter worth $26,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at $28,000. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GD has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price objective on General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a report on Tuesday, January 28th. BTIG Research lowered shares of General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. decreased their price objective on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Wells Fargo & Company boosted their target price on shares of General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, UBS Group decreased their target price on General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Dynamics has an average rating of “Hold” and a consensus price target of $297.71.

General Dynamics Stock Performance

Shares of GD opened at $271.82 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. The company’s fifty day moving average is $257.80 and its 200-day moving average is $279.88. The firm has a market cap of $73.49 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Equities analysts expect that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be issued a dividend of $1.50 per share. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, April 11th. General Dynamics’s dividend payout ratio is currently 41.64%.

General Dynamics announced that its board has authorized a stock repurchase plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares in the company, valued at $2,857,224. This represents a 13.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by company insiders.

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.