New Age Alpha Advisors LLC increased its holdings in shares of General Dynamics Corporation (NYSE:GD – Free Report) by 702.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,227 shares of the aerospace company’s stock after buying an additional 15,956 shares during the period. New Age Alpha Advisors LLC’s holdings in General Dynamics were worth $6,136,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Dunhill Financial LLC raised its stake in shares of General Dynamics by 620.0% during the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after buying an additional 62 shares during the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in shares of General Dynamics during the third quarter worth approximately $25,000. Dagco Inc. bought a new stake in shares of General Dynamics during the fourth quarter worth approximately $25,000. Burkett Financial Services LLC raised its stake in shares of General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after buying an additional 65 shares during the last quarter. Finally, Steph & Co. grew its holdings in General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 30 shares during the period. 86.14% of the stock is owned by institutional investors.
General Dynamics Stock Up 0.1%
General Dynamics stock opened at $343.20 on Monday. The stock has a market capitalization of $92.81 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 2.13 and a beta of 0.34. General Dynamics Corporation has a twelve month low of $268.10 and a twelve month high of $369.70. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $341.74 and a 200-day moving average of $346.51.
General Dynamics Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were given a $1.59 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, April 10th. General Dynamics’s payout ratio is presently 40.03%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on GD shares. Morgan Stanley boosted their price objective on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. Wall Street Zen cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. boosted their price objective on shares of General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, DA Davidson decreased their price objective on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $387.40.
Insider Transactions at General Dynamics
In other news, EVP Marguerite Amy Gilliland sold 3,819 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total value of $1,350,016.50. Following the sale, the executive vice president owned 44,767 shares of the company’s stock, valued at $15,825,134.50. The trade was a 7.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 32,918 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the completion of the sale, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $271,394,759.13. This represents a 4.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 119,600 shares of company stock valued at $41,650,580 over the last 90 days. 1.40% of the stock is owned by corporate insiders.
About General Dynamics
General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.
Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.
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