Dearborn Partners LLC Purchases 294 Shares of General Dynamics Co. (NYSE:GD)

Dearborn Partners LLC boosted its holdings in General Dynamics Co. (NYSE:GD) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,359 shares of the aerospace company’s stock after buying an additional 294 shares during the quarter. Dearborn Partners LLC’s holdings in General Dynamics were worth $15,114,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Financial Life Planners bought a new position in shares of General Dynamics during the fourth quarter worth about $25,000. Whipplewood Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at about $26,000. Heck Capital Advisors LLC bought a new stake in General Dynamics in the fourth quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in General Dynamics in the fourth quarter valued at approximately $28,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

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 company has a market cap of $73.51 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 52 week low of $239.87 and a 52 week high of $316.90. The firm’s 50-day simple moving average is $257.97 and its two-hundred day simple moving average is $279.63.

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

General Dynamics declared that its board has authorized a stock repurchase program on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.21%. 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. General Dynamics’s payout ratio is presently 43.99%.

Insider Buying and Selling

In related news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GD shares. BTIG Research cut shares of General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Baird R W lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Wells Fargo & Company lifted their target price on shares of General Dynamics from $244.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target 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. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $297.71.

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.