Riverbend Wealth Management LLC Makes New Investment in General Dynamics Co. (NYSE:GD)

Riverbend Wealth Management LLC bought a new stake in General Dynamics Co. (NYSE:GD) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,827 shares of the aerospace company’s stock, valued at approximately $485,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Life Planners acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new stake in General Dynamics during the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Dynamics during the fourth quarter worth $26,000. Heck Capital Advisors LLC acquired a new position in shares of General Dynamics in the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of General Dynamics in the fourth quarter valued at $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now owns 11,175 shares in the company, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.52% of the stock is currently owned by insiders.

General Dynamics Stock Up 0.1 %

Shares of NYSE:GD opened at $271.92 on Tuesday. General Dynamics Co. has a 1 year low of $239.87 and a 1 year high of $316.90. The stock has a 50-day simple moving average of $257.97 and a 200-day simple moving average of $279.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The stock has a market capitalization of $73.51 billion, a P/E ratio of 19.94, a PEG ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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%. Equities analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics announced that its board has initiated a stock buyback program on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be given a $1.50 dividend. The ex-dividend date is Friday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.21%. General Dynamics’s dividend payout ratio (DPR) is 43.99%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. Robert W. Baird reissued a “neutral” rating and issued a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Wells Fargo & Company boosted their price target on General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Citigroup decreased their price objective on General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned 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 price target of $297.71.

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.