WealthBridge Capital Management LLC Increases Stake in General Dynamics Co. (NYSE:GD)

WealthBridge Capital Management LLC grew its position in shares of General Dynamics Co. (NYSE:GD) by 29.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,068 shares of the aerospace company’s stock after buying an additional 241 shares during the quarter. WealthBridge Capital Management LLC’s holdings in General Dynamics were worth $282,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in General Dynamics by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock worth $4,292,851,000 after buying an additional 109,618 shares during the last quarter. State Street Corp raised its position in General Dynamics by 9.4% during the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after buying an additional 943,247 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in General Dynamics by 2.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after buying an additional 189,904 shares during the last quarter. Geode Capital Management LLC raised its position in General Dynamics by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after buying an additional 638,342 shares during the last quarter. Finally, FMR LLC raised its position in General Dynamics by 0.5% during the 3rd quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock worth $1,493,030,000 after buying an additional 24,464 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

General Dynamics Price Performance

General Dynamics stock opened at $243.95 on Thursday. General Dynamics Co. has a 12-month low of $239.87 and a 12-month high of $316.90. The stock has a market capitalization of $65.95 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.67 and a beta of 0.61. The firm’s 50-day moving average is $260.41 and its two-hundred day moving average is $283.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82.

General Dynamics (NYSE:GD) last released its quarterly earnings results 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 17.10% and a net margin of 7.93%. Equities analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were paid a dividend of $1.42 per share. The ex-dividend date was Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.33%. General Dynamics’s dividend payout ratio is currently 41.64%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 price target (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. BTIG Research cut shares of General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada lowered their price target on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. 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. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $283.00 price target (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $298.59.

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.