3,723 Shares in General Dynamics Co. (NYSE:GD) Acquired by Nemes Rush Group LLC

Nemes Rush Group LLC purchased a new stake in shares of General Dynamics Co. (NYSE:GD) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,723 shares of the aerospace company’s stock, valued at approximately $981,000.

Several other large investors have also recently made changes to their positions in GD. Tradewinds LLC. raised its position in General Dynamics by 8.1% in the 4th quarter. Tradewinds LLC. now owns 21,711 shares of the aerospace company’s stock worth $5,559,000 after purchasing an additional 1,629 shares during the period. National Bank of Canada FI grew its stake in shares of General Dynamics by 125.3% during the fourth quarter. National Bank of Canada FI now owns 351,429 shares of the aerospace company’s stock valued at $92,598,000 after buying an additional 195,476 shares during the last quarter. Family Legacy Inc. increased its holdings in shares of General Dynamics by 1.0% in the fourth quarter. Family Legacy Inc. now owns 9,085 shares of the aerospace company’s stock worth $2,375,000 after buying an additional 87 shares during the period. Rodgers Brothers Inc. lifted its stake in shares of General Dynamics by 125.7% in the 4th quarter. Rodgers Brothers Inc. now owns 19,116 shares of the aerospace company’s stock valued at $5,037,000 after acquiring an additional 10,645 shares during the last quarter. Finally, Summit Financial LLC boosted its holdings in General Dynamics by 59.8% during the 4th quarter. Summit Financial LLC now owns 5,716 shares of the aerospace company’s stock valued at $1,506,000 after acquiring an additional 2,138 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of NYSE GD opened at $272.71 on Tuesday. The firm’s 50-day moving average price is $258.84 and its 200-day moving average price is $276.41. General Dynamics Co. has a 52-week low of $239.87 and a 52-week high of $316.90. The company has a market cap of $73.73 billion, a PE ratio of 19.99, a PEG ratio of 1.69 and a beta of 0.59. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last issued its 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%. As a group, analysts anticipate that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be issued a $1.50 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a yield of 2.20%. General Dynamics’s dividend payout ratio is currently 43.99%.

General Dynamics announced that its board has initiated a stock buyback plan on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. TD Cowen reduced their price target on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Jefferies Financial Group reissued a “hold” rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Finally, William Blair downgraded shares of General Dynamics from an “outperform” rating to a “market perform” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of “Hold” and a consensus target price of $297.71.

Insiders Place Their Bets

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

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.