Riverview Capital Advisers LLC Acquires New Stake in General Dynamics Co. (NYSE:GD)

Riverview Capital Advisers LLC bought a new position in shares of General Dynamics Co. (NYSE:GD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 20,010 shares of the aerospace company’s stock, valued at approximately $5,272,000. General Dynamics accounts for about 1.6% of Riverview Capital Advisers LLC’s holdings, making the stock its 16th largest position.

A number of other large investors have also modified their holdings of GD. Empowered Funds LLC grew its holdings in shares of General Dynamics by 15.3% in the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after purchasing an additional 1,283 shares during the period. Kentucky Trust Co acquired a new position in General Dynamics in the 4th quarter valued at about $607,000. Hickory Point Bank & Trust purchased a new stake in shares of General Dynamics in the 4th quarter valued at approximately $692,000. Atlas Legacy Advisors LLC acquired a new stake in shares of General Dynamics during the 4th quarter worth approximately $550,000. Finally, Jones Financial Companies Lllp raised its position in shares of General Dynamics by 45.4% during the 4th quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company’s stock valued at $21,228,000 after buying an additional 25,144 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.9%

General Dynamics stock opened at $270.66 on Thursday. The firm has a market capitalization of $72.64 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.69 and a beta of 0.49. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $239.20 and a twelve month high of $316.90. The stock’s fifty day simple moving average is $269.24 and its 200-day simple moving average is $269.35.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 11th were given a dividend of $1.50 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Friday, April 11th. General Dynamics’s payout ratio is 41.61%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GD. Citigroup lowered their price objective on General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Argus set a $295.00 price objective on General Dynamics in a research report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price objective on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Cowen reaffirmed a “buy” rating on shares of General Dynamics in a research note on Thursday, April 24th. Finally, Morgan Stanley dropped their price target on shares of General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Hold” and an average target price of $293.00.

Insider Activity at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the transaction, the senior vice president now directly owns 45,192 shares in the company, valued at $12,297,195.12. This represents a 37.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

About General Dynamics

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.