Courier Capital LLC Has $1.66 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Courier Capital LLC lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 113.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,397 shares of the aerospace company’s stock after purchasing an additional 3,397 shares during the quarter. Courier Capital LLC’s holdings in General Dynamics were worth $1,661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. IFG Advisory LLC increased its holdings in shares of General Dynamics by 42.2% during the 4th quarter. IFG Advisory LLC now owns 3,315 shares of the aerospace company’s stock valued at $861,000 after acquiring an additional 984 shares during the last quarter. High Note Wealth LLC raised its position in shares of General Dynamics by 5.4% in the fourth quarter. High Note Wealth LLC now owns 4,891 shares of the aerospace company’s stock valued at $1,270,000 after purchasing an additional 250 shares during the period. Patriot Investment Management Group Inc. acquired a new stake in shares of General Dynamics in the fourth quarter worth $201,000. Trust Co of the South bought a new stake in shares of General Dynamics during the 4th quarter worth $358,000. Finally, Schechter Investment Advisors LLC grew its stake in General Dynamics by 1.1% in the 4th quarter. Schechter Investment Advisors LLC now owns 4,591 shares of the aerospace company’s stock valued at $1,192,000 after buying an additional 49 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Alembic Global Advisors cut shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target for the company. in a report on Monday, January 29th. UBS Group raised 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 upped their price target on General Dynamics from $283.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada restated an “outperform” rating and issued a $300.00 price objective on shares of General Dynamics in a research note on Thursday, January 25th. Finally, StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 3rd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $271.69.

General Dynamics Price Performance

NYSE GD traded up $1.57 during trading hours on Wednesday, reaching $279.92. 173,036 shares of the company’s stock were exchanged, compared to its average volume of 1,053,083. The firm has a fifty day moving average of $269.10 and a 200-day moving average of $251.11. General Dynamics Co. has a one year low of $202.35 and a one year high of $284.75. The stock has a market cap of $76.80 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 1.78 and a beta of 0.68. The company has a current ratio of 1.44, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.39 billion. During the same quarter last year, the business posted $3.58 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that General Dynamics Co. will post 14.6 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be paid a dividend of $1.42 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio is 43.93%.

Insider Buying and Selling

In other news, EVP Mark C. Roualet sold 73,330 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the transaction, the executive vice president now owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction on Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the sale, the chief executive officer now owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark C. Roualet sold 73,330 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the completion of the transaction, the executive vice president now directly owns 149,205 shares in the company, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate 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.