GUNN & Co INVESTMENT MANAGEMENT INC. Makes New Investment in General Dynamics Co. (NYSE:GD)

GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in shares of General Dynamics Co. (NYSE:GD) in the fourth quarter, Holdings Channel reports. The firm bought 102,128 shares of the aerospace company’s stock, valued at approximately $26,520,000. General Dynamics accounts for 1.7% of GUNN & Co INVESTMENT MANAGEMENT INC.’s portfolio, making the stock its 28th largest position.

Several other hedge funds also recently modified their holdings of GD. Regent Peak Wealth Advisors LLC boosted its stake in shares of General Dynamics by 0.4% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock worth $2,812,000 after acquiring an additional 41 shares during the period. Cornercap Investment Counsel Inc. boosted its stake in General Dynamics by 0.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 10,377 shares of the aerospace company’s stock valued at $2,695,000 after purchasing an additional 41 shares during the period. EverSource Wealth Advisors LLC boosted its stake in General Dynamics by 6.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 687 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 42 shares during the period. Raleigh Capital Management Inc. boosted its stake in General Dynamics by 2.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,846 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 42 shares during the period. Finally, Resonant Capital Advisors LLC boosted its stake in General Dynamics by 3.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,304 shares of the aerospace company’s stock valued at $339,000 after purchasing an additional 42 shares during the period. 86.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GD shares. Wells Fargo & Company boosted their price target on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $305.00 to $335.00 in a report on Monday, April 29th. Royal Bank of Canada dropped their price objective on General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, 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 report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $300.53.

General Dynamics Price Performance

Shares of GD opened at $288.14 on Friday. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $296.50. The business has a 50-day simple moving average of $282.47 and a two-hundred day simple moving average of $263.37. 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 cap of $79.06 billion, a PE ratio of 23.50, a PEG ratio of 1.79 and a beta of 0.67.

General Dynamics (NYSE:GD) last issued 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 firm had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same period in the previous year, the company earned $2.64 EPS. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts anticipate that General Dynamics Co. will post 14.55 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 10th. Shareholders 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 yield of 1.97%. The ex-dividend date of this dividend is Thursday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio is presently 46.33%.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the sale, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the sale, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares in the company, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

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.