Essential Planning LLC. Invests $3.13 Million in General Dynamics Co. (NYSE:GD)

Essential Planning LLC. acquired a new stake in General Dynamics Co. (NYSE:GD) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 10,855 shares of the aerospace company’s stock, valued at approximately $3,128,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Life Planners acquired a new position in shares of General Dynamics in the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC bought a new stake in General Dynamics in the 4th quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in General Dynamics in the 4th quarter valued at approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in General Dynamics in the 4th quarter valued at approximately $28,000. Finally, Heck Capital Advisors LLC bought a new stake in General Dynamics in the 4th quarter valued at approximately $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of NYSE GD opened at $260.21 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The stock’s fifty day moving average price is $257.92 and its two-hundred day moving average price is $279.30. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90. The firm has a market cap of $70.35 billion, a price-to-earnings ratio of 19.08, a P/E/G 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 EPS 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%. On average, equities analysts forecast that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.50 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, April 11th. General Dynamics’s dividend payout ratio is 43.99%.

General Dynamics announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

GD has been the topic of several research reports. Barclays cut their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft cut their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Finally, BTIG Research cut General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, General Dynamics currently has an average rating of “Hold” and a consensus price target of $297.71.

Insider Transactions at General Dynamics

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the sale, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This represents a 37.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

General Dynamics Company 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.