General Dynamics Co. (NYSE:GD) Shares Acquired by BTC Capital Management Inc.

BTC Capital Management Inc. boosted its holdings in General Dynamics Co. (NYSE:GD) by 39.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,992 shares of the aerospace company’s stock after purchasing an additional 1,699 shares during the quarter. BTC Capital Management Inc.’s holdings in General Dynamics were worth $1,579,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Evernest Financial Advisors LLC increased its stake in General Dynamics by 30.6% in the fourth quarter. Evernest Financial Advisors LLC now owns 897 shares of the aerospace company’s stock valued at $236,000 after purchasing an additional 210 shares during the period. Sonora Investment Management Group LLC acquired a new position in shares of General Dynamics in the fourth quarter valued at approximately $205,000. Crews Bank & Trust purchased a new stake in shares of General Dynamics during the fourth quarter worth approximately $42,000. Allen Capital Group LLC lifted its holdings in shares of General Dynamics by 2.9% during the fourth quarter. Allen Capital Group LLC now owns 1,635 shares of the aerospace company’s stock worth $431,000 after purchasing an additional 46 shares during the period. Finally, SteelPeak Wealth LLC increased its stake in General Dynamics by 18.2% in the 4th quarter. SteelPeak Wealth LLC now owns 1,319 shares of the aerospace company’s stock valued at $348,000 after buying an additional 203 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GD. UBS Group lowered their target price on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. cut their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday. Barclays decreased their price target on General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada cut their price objective on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, Sanford C. Bernstein lowered their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $301.24.

General Dynamics Trading Up 2.2 %

General Dynamics stock opened at $256.93 on Friday. The stock has a market cap of $70.65 billion, a PE ratio of 18.84, a P/E/G ratio of 1.34 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 52 week low of $247.01 and a 52 week high of $316.90. The stock has a 50-day moving average price of $267.54 and a 200 day moving average price of $287.02.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.08% and a net margin of 7.93%. Equities research analysts predict that General Dynamics Co. will post 15.92 earnings per share for the current fiscal year.

General Dynamics announced that its board has initiated a stock repurchase program on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.21%. General Dynamics’s payout ratio is currently 41.64%.

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.