Corient Private Wealth LLC Purchases 5,765 Shares of General Dynamics Co. (NYSE:GD)

Corient Private Wealth LLC grew its position in shares of General Dynamics Co. (NYSE:GD) by 5.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 114,661 shares of the aerospace company’s stock after buying an additional 5,765 shares during the quarter. Corient Private Wealth LLC’s holdings in General Dynamics were worth $29,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Community Bank N.A. lifted its holdings in General Dynamics by 0.6% during the third quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company’s stock worth $1,650,000 after acquiring an additional 35 shares during the period. Freedom Investment Management Inc. grew its stake in General Dynamics by 0.9% in the 3rd quarter. Freedom Investment Management Inc. now owns 4,344 shares of the aerospace company’s stock valued at $1,313,000 after purchasing an additional 37 shares during the period. Purus Wealth Management LLC raised its stake in shares of General Dynamics by 1.5% during the 4th quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company’s stock worth $701,000 after purchasing an additional 39 shares during the period. Armstrong Advisory Group Inc. boosted its holdings in shares of General Dynamics by 4.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,051 shares of the aerospace company’s stock worth $277,000 after buying an additional 40 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY grew its position in General Dynamics by 4.2% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,012 shares of the aerospace company’s stock valued at $306,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 1.3 %

Shares of NYSE:GD opened at $265.33 on Tuesday. The company has a market cap of $71.73 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90. The firm has a fifty day moving average price of $258.04 and a two-hundred day moving average price of $278.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS 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%. Analysts anticipate that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics announced that its Board of Directors has initiated a share buyback plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are 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 given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.26%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics’s dividend payout ratio is 43.99%.

Insider Activity at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was 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 of the company’s stock, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly 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 disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on GD shares. UBS Group lowered their price objective on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company upped their price objective on General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a research note on Friday, March 7th. Barclays decreased their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. William Blair cut General Dynamics from an “outperform” rating to a “market perform” rating in a research report on Friday, February 21st. Finally, Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $352.00 to $290.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $297.71.

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.