General Dynamics Co. (NYSE:GD) Shares Purchased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of General Dynamics Co. (NYSE:GD) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,057 shares of the aerospace company’s stock after acquiring an additional 91 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in General Dynamics were worth $534,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. MeadowBrook Investment Advisors LLC purchased a new position in General Dynamics in the 4th quarter worth about $25,000. Briaud Financial Planning Inc purchased a new position in shares of General Dynamics in the third quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new stake in shares of General Dynamics in the 4th quarter valued at approximately $38,000. Wetzel Investment Advisors Inc. acquired a new position in General Dynamics in the 4th quarter worth approximately $38,000. Finally, Operose Advisors LLC purchased a new position in General Dynamics during the 3rd quarter worth approximately $40,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and increased their target price for the company from $305.00 to $335.00 in a report on Monday, April 29th. Argus raised their price objective on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. The Goldman Sachs Group raised their price target on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Barclays upped their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $300.53.

Insider Activity

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the transaction, the vice president now owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the transaction, the director now owns 5,518 shares of the company’s stock, valued at approximately $1,589,184. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the sale, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,987 shares of company stock valued at $18,836,700. 1.60% of the stock is owned by insiders.

General Dynamics Stock Down 0.2 %

Shares of NYSE:GD traded down $0.63 on Wednesday, reaching $292.74. The company had a trading volume of 1,004,929 shares, compared to its average volume of 1,107,900. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $80.32 billion, a P/E ratio of 23.88, a P/E/G ratio of 1.80 and a beta of 0.67. The stock has a 50-day moving average price of $283.23 and a 200 day moving average price of $264.48. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $296.50.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the previous year, the company earned $2.64 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts expect that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.94%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio is 46.33%.

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.