Stevens Capital Management LP Buys 1,934 Shares of General Dynamics Co. (NYSE:GD)

Stevens Capital Management LP boosted its stake in General Dynamics Co. (NYSE:GD) by 191.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,943 shares of the aerospace company’s stock after purchasing an additional 1,934 shares during the quarter. Stevens Capital Management LP’s holdings in General Dynamics were worth $775,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in shares of General Dynamics by 15.3% in the 4th quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after buying an additional 1,283 shares during the period. Kentucky Trust Co acquired a new stake in General Dynamics in the fourth quarter valued at approximately $607,000. Hickory Point Bank & Trust bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $692,000. Wealth Enhancement Advisory Services LLC raised its position in shares of General Dynamics by 69.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock worth $69,032,000 after purchasing an additional 107,095 shares during the period. Finally, Atlas Legacy Advisors LLC bought a new position in shares of General Dynamics in the 4th quarter worth $550,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

General Dynamics stock opened at $263.30 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The business’s 50 day simple moving average is $258.50 and its 200 day simple moving average is $277.79. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. The company has a market cap of $71.18 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. Sell-side analysts forecast that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics declared that its board has authorized a stock repurchase program on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be paid a dividend of $1.50 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Friday, April 11th. General Dynamics’s dividend payout ratio is presently 43.99%.

Insider Buying and Selling

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on GD shares. Jefferies Financial Group restated a “hold” rating and set a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. William Blair lowered shares of General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Robert W. Baird reissued a “neutral” rating and issued a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. cut their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, thirteen 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 stock presently has a consensus rating of “Hold” and an average target price of $297.71.

About General Dynamics

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.