Alteri Wealth LLC Invests $428,000 in General Dynamics Co. (NYSE:GD)

Alteri Wealth LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,624 shares of the aerospace company's stock, valued at approximately $428,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GD. Empowered Funds LLC grew its holdings in shares of General Dynamics by 15.3% in the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company's stock worth $2,553,000 after acquiring an additional 1,283 shares during the period. Kentucky Trust Co purchased a new stake in shares of General Dynamics during the 4th quarter valued at about $607,000. Hickory Point Bank & Trust bought a new position in shares of General Dynamics in the 4th quarter worth approximately $692,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of General Dynamics by 69.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company's stock worth $69,032,000 after buying an additional 107,095 shares during the last quarter. Finally, Atlas Legacy Advisors LLC bought a new stake in General Dynamics during the fourth quarter valued at approximately $550,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GD shares. Royal Bank of Canada cut their price objective on shares of General Dynamics from $290.00 to $280.00 and set a "sector perform" rating for the company in a research report on Thursday, January 30th. Robert W. Baird restated a "neutral" rating and issued a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. TD Cowen lowered their price objective on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Barclays reduced their target price on shares of General Dynamics from $305.00 to $285.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Finally, William Blair lowered 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, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $292.88.

Insider Buying and Selling

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares of the company's stock, valued at approximately $12,297,195.12. The trade was a 37.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is owned by corporate insiders.

General Dynamics Trading Up 0.6 %

GD stock opened at $273.21 on Friday. The firm has a market cap of $73.33 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 1.69 and a beta of 0.49. The firm has a fifty day moving average price of $266.84 and a 200 day moving average price of $270.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a fifty-two week low of $239.20 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.23. The firm had revenue of $12.22 billion for 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 revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.88 EPS. Sell-side analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.00 annualized dividend and a dividend yield of 2.20%. This is an increase from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's payout ratio is currently 41.61%.

General Dynamics 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.

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