Dover Advisors LLC Lowers Stock Holdings in General Dynamics Co. (NYSE:GD)

Dover Advisors LLC reduced its position in shares of General Dynamics Co. (NYSE:GD) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 896 shares of the aerospace company’s stock after selling 113 shares during the period. Dover Advisors LLC’s holdings in General Dynamics were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Several equities analysts have issued reports on GD shares. Wells Fargo & Company boosted their target price on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Citigroup boosted their price target on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank of Canada decreased their price target on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, UBS Group boosted their price target on General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus price target of $293.43.

General Dynamics Price Performance

GD stock traded down $0.49 on Friday, reaching $284.41. The company had a trading volume of 1,244,205 shares, compared to its average volume of 1,231,567. General Dynamics Co. has a 1 year low of $202.35 and a 1 year high of $296.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. The company’s fifty day moving average is $280.86 and its 200 day moving average is $262.05. The company has a market cap of $78.03 billion, a P/E ratio of 23.20, a PEG ratio of 1.81 and a beta of 0.68.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.64 earnings per share. On average, research analysts forecast that General Dynamics Co. will post 14.57 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 2.00%. General Dynamics’s payout ratio is 46.33%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at approximately $204,569,860.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.52% of the stock is currently owned by insiders.

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.