846 Shares in General Dynamics Co. (NYSE:GD) Acquired by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. bought a new position in shares of General Dynamics Co. (NYSE:GD) in the fourth quarter, Holdings Channel reports. The fund bought 846 shares of the aerospace company’s stock, valued at approximately $220,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC grew its position in shares of General Dynamics by 0.4% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock worth $2,812,000 after buying an additional 41 shares during the period. Cornercap Investment Counsel Inc. increased its stake in General Dynamics by 0.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 10,377 shares of the aerospace company’s stock valued at $2,695,000 after purchasing an additional 41 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of General Dynamics by 6.5% during the third quarter. EverSource Wealth Advisors LLC now owns 687 shares of the aerospace company’s stock worth $152,000 after purchasing an additional 42 shares in the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of General Dynamics by 2.3% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,846 shares of the aerospace company’s stock valued at $408,000 after buying an additional 42 shares during the period. Finally, Resonant Capital Advisors LLC increased its position in shares of General Dynamics by 3.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,304 shares of the aerospace company’s stock valued at $339,000 after buying an additional 42 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

GD has been the subject of a number of research analyst reports. Barclays boosted their target price on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and increased their target price for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. The Goldman Sachs Group lifted their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. UBS Group increased their price objective on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, Argus boosted their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $300.53.

Insider Buying and Selling

In related news, Director Leon Rudy F. De sold 2,570 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total transaction of $740,160.00. Following the transaction, the director now directly owns 5,518 shares of the company’s stock, valued at approximately $1,589,184. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Leon Rudy F. De sold 2,570 shares of General Dynamics stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the completion of the sale, the director now owns 5,518 shares of the company’s stock, valued at approximately $1,589,184. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the transaction, the vice president now owns 103,345 shares in the company, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,987 shares of company stock worth $18,836,700. Company insiders own 1.60% of the company’s stock.

General Dynamics Stock Up 0.7 %

GD stock traded up $1.99 during mid-day trading on Tuesday, reaching $293.37. The company had a trading volume of 709,808 shares, compared to its average volume of 1,109,033. The company has a market capitalization of $80.49 billion, a price-to-earnings ratio of 23.93, 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 stock has a 50 day simple moving average of $283.23 and a two-hundred day simple moving average of $264.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87.

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

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a $1.42 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

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.