Shell Asset Management Co. Has $1.07 Million Holdings in General Dynamics Co. (NYSE:GD)

Shell Asset Management Co. boosted its position in General Dynamics Co. (NYSE:GD) by 149.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,061 shares of the aerospace company’s stock after acquiring an additional 2,436 shares during the quarter. Shell Asset Management Co.’s holdings in General Dynamics were worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC grew its stake in General Dynamics by 15.3% in the 4th quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after buying an additional 1,283 shares during the last quarter. Kentucky Trust Co bought a new stake in General Dynamics in the 4th quarter valued at $607,000. Hickory Point Bank & Trust bought a new stake in General Dynamics in the 4th quarter valued at $692,000. Atlas Legacy Advisors LLC bought a new stake in General Dynamics in the 4th quarter valued at $550,000. Finally, Jones Financial Companies Lllp boosted its holdings in General Dynamics by 45.4% in the 4th quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company’s stock valued at $21,228,000 after purchasing an additional 25,144 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. The trade was a 37.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GD has been the subject of a number of research reports. TD Cowen reduced their price target on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. UBS Group increased their price target on shares of General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. TD Securities increased their price target on shares of General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Barclays reduced their price objective on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, General Dynamics currently has an average rating of “Hold” and an average target price of $293.00.

General Dynamics Trading Up 0.7%

Shares of GD stock opened at $280.54 on Friday. General Dynamics Co. has a 12-month low of $239.20 and a 12-month high of $316.90. The company has a market capitalization of $75.29 billion, a P/E ratio of 20.57, a P/E/G ratio of 1.69 and a beta of 0.49. The firm has a 50-day moving average price of $269.70 and a 200 day moving average price of $268.81. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

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

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 11th were issued a dividend of $1.50 per share. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Friday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 41.61%.

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.