Berkeley Capital Partners LLC Grows Stock Holdings in General Dynamics Co. (NYSE:GD)

Berkeley Capital Partners LLC grew its holdings in General Dynamics Co. (NYSE:GD) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,799 shares of the aerospace company’s stock after purchasing an additional 73 shares during the quarter. Berkeley Capital Partners LLC’s holdings in General Dynamics were worth $1,001,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Financial Life Planners purchased a new position in General Dynamics in the 4th quarter worth approximately $25,000. Whipplewood Advisors LLC purchased a new position in General Dynamics in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Dynamics in the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC purchased a new position in General Dynamics in the 4th quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter valued at approximately $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

NYSE:GD opened at $268.11 on Thursday. The firm has a market capitalization of $72.48 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The business’s fifty day moving average price is $258.34 and its 200 day moving average price is $278.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. On average, sell-side analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics declared that its board has initiated a stock repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.24%. The ex-dividend date is Friday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio is 43.99%.

Insider Activity at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 11,175 shares of the company’s stock, valued at $2,857,224. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and reduced their price target for the company from $352.00 to $290.00 in a research report on Monday, January 6th. Wells Fargo & Company lifted their price target on shares of General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a research report on Friday, March 7th. Royal Bank of Canada reduced their price target on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $297.71.

General Dynamics Company 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.