Sulzberger Capital Advisors Inc. Takes Position in General Dynamics Co. (NYSE:GD)

Sulzberger Capital Advisors Inc. bought a new stake in shares of General Dynamics Co. (NYSE:GD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,286 shares of the aerospace company’s stock, valued at approximately $602,000. General Dynamics comprises about 0.7% of Sulzberger Capital Advisors Inc.’s holdings, making the stock its 28th biggest position.

A number of other large investors have also recently modified their holdings of GD. Purus Wealth Management LLC lifted its holdings in General Dynamics by 1.5% during the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company’s stock worth $701,000 after buying an additional 39 shares during the period. Armstrong Advisory Group Inc. lifted its holdings in General Dynamics by 4.0% during the fourth quarter. Armstrong Advisory Group Inc. now owns 1,051 shares of the aerospace company’s stock worth $277,000 after buying an additional 40 shares during the period. Austin Wealth Management LLC lifted its holdings in General Dynamics by 5.4% during the fourth quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company’s stock worth $220,000 after buying an additional 42 shares during the period. SRS Capital Advisors Inc. lifted its holdings in General Dynamics by 35.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company’s stock worth $43,000 after buying an additional 43 shares during the period. Finally, Stokes Family Office LLC lifted its holdings in General Dynamics by 0.4% during the fourth quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company’s stock worth $2,708,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 45,192 shares in the company, valued at approximately $12,297,195.12. This represents a 37.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the company’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 completion of the transaction, the director now 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. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. TD Cowen decreased their price objective on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Citigroup decreased their target price on General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company decreased their price target on General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Finally, Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $292.88.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $272.10 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The stock has a market capitalization of $73.03 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43. The business has a 50-day moving average of $265.87 and a 200 day moving average of $271.59. General Dynamics Co. has a 12 month low of $239.20 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.88 earnings per share. As a group, sell-side analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s payout ratio is 41.61%.

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.