Greykasell Wealth Strategies Inc. Invests $522,000 in General Dynamics Co. (NYSE:GD)

Greykasell Wealth Strategies Inc. purchased a new position in General Dynamics Co. (NYSE:GD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,980 shares of the aerospace company’s stock, valued at approximately $522,000.

A number of other large investors also recently modified their holdings of GD. Empowered Funds LLC increased its holdings in shares of General Dynamics by 15.3% in the 4th quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock worth $2,553,000 after acquiring an additional 1,283 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in shares of General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after acquiring an additional 3,448 shares during the period. Kentucky Trust Co acquired a new stake in shares of General Dynamics in the 4th quarter worth about $607,000. Hickory Point Bank & Trust acquired a new stake in shares of General Dynamics in the 4th quarter worth about $692,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of General Dynamics by 69.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock worth $69,032,000 after acquiring an additional 107,095 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the sale, the senior vice president now owns 45,192 shares of the company’s stock, valued at $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. TD Cowen lowered their target price on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lowered their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. William Blair cut shares of General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Royal Bank of Canada lowered their target price on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. Finally, Barclays lowered their target price on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, General Dynamics has a consensus rating of “Hold” and a consensus price target of $297.71.

General Dynamics Trading Up 0.4 %

General Dynamics stock opened at $262.19 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 simple moving average is $257.89 and its 200-day simple moving average is $278.98. The stock has a market cap of $70.88 billion, a P/E ratio of 19.22, a P/E/G ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. As a group, sell-side analysts forecast that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics announced that its Board of Directors has authorized a share repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. General Dynamics’s payout ratio is 43.99%.

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.