Summit Trail Advisors LLC Buys 166 Shares of General Dynamics Co. (NYSE:GD)

Summit Trail Advisors LLC raised its stake in shares of General Dynamics Co. (NYSE:GD) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,531 shares of the aerospace company’s stock after purchasing an additional 166 shares during the period. Summit Trail Advisors LLC’s holdings in General Dynamics were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in GD. Spire Wealth Management lifted its position in General Dynamics by 24.1% during the fourth quarter. Spire Wealth Management now owns 5,224 shares of the aerospace company’s stock valued at $1,303,000 after purchasing an additional 1,014 shares during the last quarter. Kerntke Otto McGlone Wealth Management Group bought a new position in shares of General Dynamics in the 4th quarter valued at about $227,000. Connecticut Wealth Management LLC grew its position in General Dynamics by 3.7% in the fourth quarter. Connecticut Wealth Management LLC now owns 1,478 shares of the aerospace company’s stock worth $384,000 after acquiring an additional 53 shares in the last quarter. TCG Advisory Services LLC bought a new stake in General Dynamics during the fourth quarter worth approximately $276,000. Finally, Red Cedar Investment Management LLC raised its position in General Dynamics by 60.3% during the fourth quarter. Red Cedar Investment Management LLC now owns 8,076 shares of the aerospace company’s stock valued at $2,097,000 after purchasing an additional 3,038 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Down 0.1 %

Shares of NYSE:GD opened at $293.05 on Wednesday. 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 business’s 50 day moving average is $283.23 and its 200 day moving average is $264.48. The stock has a market cap of $80.40 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 1.80 and a beta of 0.67. General Dynamics Co. has a 52-week low of $202.35 and a 52-week high of $296.50.

General Dynamics (NYSE:GD) last posted its quarterly 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). The firm had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. General Dynamics’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.64 EPS. Sell-side analysts predict that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.94%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is currently 46.33%.

Insider Activity

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’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 sale, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,987 shares of company stock worth $18,836,700. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GD. Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $305.00 to $335.00 in a report on Monday, April 29th. Argus boosted their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. raised their target price on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Alembic Global Advisors downgraded shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a report on Monday, January 29th. Finally, Susquehanna boosted their target price on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $300.53.

General Dynamics Company 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.