Red Cedar Investment Management LLC Increases Holdings in General Dynamics Co. (NYSE:GD)

Red Cedar Investment Management LLC increased its stake in General Dynamics Co. (NYSE:GD) by 60.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,076 shares of the aerospace company’s stock after buying an additional 3,038 shares during the quarter. Red Cedar Investment Management LLC’s holdings in General Dynamics were worth $2,097,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Mission Wealth Management LP raised its stake in General Dynamics by 10.0% in the 3rd quarter. Mission Wealth Management LP now owns 1,798 shares of the aerospace company’s stock valued at $397,000 after acquiring an additional 163 shares during the period. Raymond James & Associates lifted its stake in shares of General Dynamics by 1.2% during the 3rd quarter. Raymond James & Associates now owns 438,854 shares of the aerospace company’s stock valued at $96,974,000 after buying an additional 5,050 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in General Dynamics by 2.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 239,058 shares of the aerospace company’s stock worth $52,825,000 after buying an additional 5,737 shares during the period. Stratos Wealth Partners LTD. grew its stake in General Dynamics by 2.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 8,403 shares of the aerospace company’s stock valued at $1,857,000 after buying an additional 181 shares in the last quarter. Finally, NorthRock Partners LLC raised its holdings in General Dynamics by 17.0% during the 3rd quarter. NorthRock Partners LLC now owns 2,408 shares of the aerospace company’s stock valued at $532,000 after acquiring an additional 350 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of General Dynamics stock traded up $0.78 during trading on Friday, hitting $288.14. 974,321 shares of the stock traded hands, compared to its average volume of 1,217,434. The firm’s fifty day moving average is $282.47 and its 200-day moving average is $263.37. The stock has a market cap of $79.05 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.80 and a beta of 0.67. General Dynamics Co. has a 52 week low of $202.35 and a 52 week high of $296.50. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same period last year, the business posted $2.64 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year. Research analysts expect that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.97%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio is presently 46.33%.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the subject of a number of analyst reports. Argus raised their price target on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 29th. UBS Group lifted their target price on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Citigroup increased their price target on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price objective on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group increased their target price on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.53.

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.