High Note Wealth LLC Boosts Position in General Dynamics Co. (NYSE:GD)

High Note Wealth LLC increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,891 shares of the aerospace company’s stock after purchasing an additional 250 shares during the quarter. High Note Wealth LLC’s holdings in General Dynamics were worth $1,270,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of General Dynamics in the fourth quarter valued at approximately $607,393,000. Wellington Management Group LLP increased its holdings in shares of 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 valued at $3,615,185,000 after purchasing an additional 1,755,276 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of General Dynamics by 484.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,749,729 shares of the aerospace company’s stock valued at $399,306,000 after purchasing an additional 1,450,213 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in General Dynamics by 91,832.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,386,337 shares of the aerospace company’s stock worth $343,964,000 after acquiring an additional 1,384,829 shares during the period. Finally, Imprint Wealth LLC grew its holdings in General Dynamics by 20,700.5% during the second quarter. Imprint Wealth LLC now owns 663,953 shares of the aerospace company’s stock worth $66,395,000 after acquiring an additional 660,761 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 1.3 %

Shares of GD stock opened at $281.90 on Thursday. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $284.75. The stock has a market cap of $77.34 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 1.77 and a beta of 0.68. The business’s fifty day moving average is $269.65 and its 200-day moving average is $251.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.68 by ($0.04). General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.39 billion. During the same quarter last year, the business posted $3.58 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts expect that General Dynamics Co. will post 14.59 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. Investors of record on Friday, April 12th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.01%. 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 payout ratio is presently 43.93%.

Insider Transactions at General Dynamics

In related news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the sale, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $264.31, for a total value 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 $204,569,860.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the transaction, the executive vice president now owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GD shares. StockNews.com lowered General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Alembic Global Advisors lowered General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price on the stock. in a report on Monday, January 29th. UBS Group upped their target price on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Citigroup upped their target price on General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 target price on shares of General Dynamics in a report on Thursday, January 25th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average price target of $271.69.

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.