DRH Investments Inc. Decreases Stock Position in General Dynamics Co. (NYSE:GD)

DRH Investments Inc. decreased its stake in General Dynamics Co. (NYSE:GD - Free Report) by 32.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,058 shares of the aerospace company's stock after selling 16,119 shares during the period. General Dynamics accounts for 10.0% of DRH Investments Inc.'s investment portfolio, making the stock its 6th largest holding. DRH Investments Inc.'s holdings in General Dynamics were worth $8,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners acquired a new position in shares of General Dynamics in the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC purchased a new position in General Dynamics in the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth $26,000. Sugar Maple Asset Management LLC acquired a new position in General Dynamics during the fourth quarter worth about $28,000. Finally, Heck Capital Advisors LLC acquired a new stake in General Dynamics in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup dropped their price target on General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. TD Cowen cut their price objective on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Royal Bank of Canada cut their price target on shares of General Dynamics from $290.00 to $280.00 and set a "sector perform" rating on the stock in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft decreased their target price on General Dynamics from $303.00 to $295.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. Finally, UBS Group lowered their price objective on shares of General Dynamics from $337.00 to $281.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $294.47.

Remove Ads

General Dynamics Price Performance

Shares of NYSE GD traded up $1.36 during midday trading on Wednesday, reaching $278.50. 815,649 shares of the company traded hands, compared to its average volume of 1,349,398. The firm has a market cap of $74.74 billion, a PE ratio of 20.42, a PEG ratio of 1.69 and a beta of 0.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The stock's 50-day simple moving average is $260.33 and its 200-day simple moving average is $273.46. General Dynamics Co. has a 12 month low of $239.20 and a 12 month high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS 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, equities analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company 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. This represents a $6.00 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's dividend payout ratio is presently 43.99%.

Insiders Place Their Bets

In related news, Director Laura J. Schumacher sold 1,796 shares of the business'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 completion of the sale, the director now directly owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.52% of the company's stock.

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.