Cornerstone Select Advisors LLC Acquires Shares of 958 General Dynamics Co. (NYSE:GD)

Cornerstone Select Advisors LLC purchased a new stake in General Dynamics Co. (NYSE:GD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 958 shares of the aerospace company's stock, valued at approximately $252,000.

Other institutional investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new position in General Dynamics in the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC purchased a new stake in General Dynamics during the 4th quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of General Dynamics during the fourth quarter worth about $26,000. Heck Capital Advisors LLC bought a new stake in General Dynamics during the fourth quarter worth about $28,000. Finally, Hoey Investments Inc. bought a new stake in shares of General Dynamics in the 4th quarter valued at about $28,000. Institutional investors own 86.14% of the company's stock.

General Dynamics Stock Down 0.1 %

Shares of GD traded down $0.37 during mid-day trading on Friday, reaching $271.61. 1,029,098 shares of the stock traded hands, compared to its average volume of 1,368,885. General Dynamics Co. has a 12-month low of $239.20 and a 12-month high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The firm has a market cap of $72.90 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 1.69 and a beta of 0.49. The stock has a fifty day simple moving average of $268.82 and a 200 day simple moving average of $269.96.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping the consensus estimate of $3.43 by $0.23. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. The firm had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. General Dynamics's quarterly revenue was up 13.9% on a year-over-year basis. Sell-side analysts expect that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 11th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.21%. This is a boost from General Dynamics's previous quarterly dividend of $1.42. The ex-dividend date was Friday, April 11th. General Dynamics's dividend payout ratio is 41.61%.

Insider Activity at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company'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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.50% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup decreased their target price on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a report on Thursday, April 10th. The Goldman Sachs Group lowered their price objective on shares of General Dynamics from $245.00 to $241.00 and set a "sell" rating for the company in a research report on Tuesday, January 28th. Susquehanna increased their target price on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research report on Wednesday, April 2nd. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a report on Thursday, April 24th. Finally, William Blair downgraded General Dynamics from an "outperform" rating to a "market perform" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $293.00.

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.