Cushing Capital Partners LLC Purchases New Stake in General Dynamics Co. (NYSE:GD)

Cushing Capital Partners LLC purchased a new stake in shares of General Dynamics Co. (NYSE:GD) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,481 shares of the aerospace company’s stock, valued at approximately $654,000.

Other large investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new position in General Dynamics in the 4th quarter worth about $25,000. Whipplewood Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth about $26,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth about $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth about $28,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of NYSE GD opened at $271.92 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $257.97 and its two-hundred day moving average is $279.63. The company has a market cap of $73.51 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. On average, equities analysts expect that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio (DPR) is presently 43.99%.

General Dynamics announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. cut their price target on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Royal Bank of Canada cut their price target on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. TD Cowen cut their price objective on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Finally, Citigroup cut their price objective on General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $297.71.

Insider Transactions at General Dynamics

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 sale, the director now owns 11,175 shares of the company’s stock, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.52% of the stock is owned by insiders.

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.