Advantage Trust Co Invests $62,000 in General Dynamics Co. (NYSE:GD)

Advantage Trust Co acquired a new stake in shares of General Dynamics Co. (NYSE:GD) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 240 shares of the aerospace company’s stock, valued at approximately $62,000.

Several other hedge funds have also recently made changes to their positions in GD. Regent Peak Wealth Advisors LLC raised its stake 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 valued at $2,812,000 after buying an additional 41 shares during the last quarter. Cornercap Investment Counsel Inc. grew its holdings in General Dynamics by 0.4% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 10,377 shares of the aerospace company’s stock worth $2,695,000 after acquiring an additional 41 shares during the period. EverSource Wealth Advisors LLC raised its position in General Dynamics by 6.5% during the third quarter. EverSource Wealth Advisors LLC now owns 687 shares of the aerospace company’s stock valued at $152,000 after acquiring an additional 42 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in General Dynamics by 2.3% in the third quarter. Raleigh Capital Management Inc. now owns 1,846 shares of the aerospace company’s stock valued at $408,000 after acquiring an additional 42 shares during the period. Finally, Resonant Capital Advisors LLC boosted its position in General Dynamics by 3.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,304 shares of the aerospace company’s stock worth $339,000 after purchasing an additional 42 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Price Performance

Shares of General Dynamics stock traded up $3.28 during trading hours on Thursday, reaching $296.02. 707,609 shares of the company’s stock were exchanged, compared to its average volume of 1,103,452. The business has a fifty day moving average of $283.60 and a two-hundred day moving average of $264.67. The company has a market capitalization of $81.22 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 1.80 and a beta of 0.67. 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 Co. has a 1 year low of $202.35 and a 1 year high of $296.50.

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

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a $1.42 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio is presently 46.33%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GD. Wells Fargo & Company boosted their target price on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Susquehanna upped their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. Barclays raised their target price on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. The Goldman Sachs Group upped their price target on General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $300.53.

Insiders Place Their Bets

In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the transaction, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics 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 sale, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The disclosure for this sale can be found here. Insiders sold 65,987 shares of company stock valued at $18,836,700 in the last three months. 1.52% of the stock is currently owned by insiders.

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.