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

Greykasell Wealth Strategies Inc. acquired a new stake in General Dynamics Co. (NYSE:GD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,980 shares of the aerospace company's stock, valued at approximately $522,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GD. State Street Corp increased its position in General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company's stock worth $3,307,612,000 after buying an additional 943,247 shares during the period. Raymond James Financial Inc. acquired a new position in shares of General Dynamics in the fourth quarter worth $197,238,000. Geode Capital Management LLC increased its stake in General Dynamics by 13.0% in the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company's stock valued at $1,674,998,000 after purchasing an additional 638,342 shares during the last quarter. Two Sigma Advisers LP increased its stake in General Dynamics by 117.0% in the third quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company's stock valued at $259,469,000 after purchasing an additional 463,000 shares during the last quarter. Finally, Barclays PLC increased its stake in General Dynamics by 43.1% in the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company's stock valued at $284,818,000 after purchasing an additional 283,972 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Analyst Ratings Changes

GD has been the subject of several analyst reports. TD Cowen decreased their target price on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Wolfe Research downgraded General Dynamics from an "outperform" rating to a "peer perform" rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price target on General Dynamics from $307.00 to $284.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. BTIG Research downgraded General Dynamics from a "buy" rating to a "neutral" rating in a research note on Thursday, February 13th. Finally, Robert W. Baird restated a "neutral" rating and issued a $283.00 target price (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of "Hold" and an average target price of $297.71.

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General Dynamics Stock Up 0.2 %

NYSE:GD traded up $0.59 during mid-day trading on Wednesday, hitting $268.11. 1,495,915 shares of the company's stock were exchanged, compared to its average volume of 1,238,310. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The business has a fifty day moving average price of $258.20 and a 200 day moving average price of $278.32. The company has a market cap of $72.48 billion, a PE ratio of 19.66, a P/E/G ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing analysts' consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Equities analysts predict that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be given a dividend of $1.50 per share. This is a positive change from General Dynamics's previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.24%. General Dynamics's dividend payout ratio is currently 43.99%.

General Dynamics announced that its Board of Directors has approved a stock 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 often an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Laura J. Schumacher sold 1,796 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the transaction, the director now owns 11,175 shares of the company's stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm'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 transaction, the senior vice president now directly owns 45,192 shares in the company, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is owned by company insiders.

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.