Dover Advisors LLC Reduces Position in General Dynamics Co. (NYSE:GD)

Dover Advisors LLC cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 896 shares of the aerospace company’s stock after selling 113 shares during the period. Dover Advisors LLC’s holdings in General Dynamics were worth $233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GD. Wellington Management Group LLP boosted its position in General Dynamics by 12.0% in the third 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. International Assets Investment Management LLC boosted its position in General Dynamics by 10,763.2% in the fourth quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after purchasing an additional 915,091 shares during the last quarter. California Public Employees Retirement System boosted its position in General Dynamics by 55.2% in the third quarter. California Public Employees Retirement System now owns 806,917 shares of the aerospace company’s stock worth $178,304,000 after purchasing an additional 286,928 shares during the last quarter. FMR LLC boosted its position in General Dynamics by 13.7% in the third quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after purchasing an additional 275,947 shares during the last quarter. Finally, Boston Partners boosted its position in General Dynamics by 12.7% in the third quarter. Boston Partners now owns 1,763,878 shares of the aerospace company’s stock worth $392,110,000 after purchasing an additional 198,185 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the transaction, the chief executive officer now owns 773,977 shares in the company, valued at approximately $204,569,860.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Trading Down 0.2 %

Shares of NYSE GD traded down $0.49 during trading hours on Friday, hitting $284.41. 1,244,205 shares of the company traded hands, compared to its average volume of 1,231,567. The stock has a market capitalization of $78.03 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 1.81 and a beta of 0.68. The company has a current ratio of 1.44, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average price is $280.86 and its 200 day moving average price is $262.05. General Dynamics Co. has a 12 month low of $202.35 and a 12 month high of $296.50.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). The company 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 business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.64 EPS. On average, equities research analysts anticipate that General Dynamics Co. will post 14.57 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business 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. The ex-dividend date is Thursday, April 11th. This represents a $5.68 annualized dividend and a dividend yield of 2.00%. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is currently 46.33%.

Wall Street Analyst Weigh In

GD has been the topic of a number of analyst reports. Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective on the stock. in a research report on Monday, January 29th. The Goldman Sachs Group lifted their price objective on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. StockNews.com raised General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Citigroup lifted their price objective on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $293.43.

General Dynamics 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.