Christine Messmer PC Takes Position in General Dynamics Corporation $GD

Key Points

• Christine Messmer PC bought a new stake of 3,535 shares (~$1.19M) in General Dynamics during Q4, making the stock 0.8% of its portfolio and its 28th largest holding; institutional investors own about 86.14% of the company.
• General Dynamics beat expectations for the quarter with EPS $4.10 vs. $3.67 consensus and revenue of $13.48 billion vs. $12.70 billion, a 10.3% year-over-year increase.
• The company raised its quarterly dividend to $1.59 (annualized $6.36, ~1.8% yield), and analysts' consensus is a "Moderate Buy" with an average price target of $388.70.

Christine Messmer PC bought a new stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 3,535 shares of the aerospace company's stock, valued at approximately $1,190,000. General Dynamics makes up 0.8% of Christine Messmer PC's portfolio, making the stock its 28th largest position.

Other institutional investors have also made changes to their positions in the company. Joule Financial LLC lifted its holdings in General Dynamics by 4.3% during the 4th quarter. Joule Financial LLC now owns 705 shares of the aerospace company's stock valued at $237,000 after purchasing an additional 29 shares during the last quarter. Brown Miller Wealth Management LLC raised its stake in shares of General Dynamics by 0.3% in the fourth quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company's stock worth $2,993,000 after acquiring an additional 29 shares during the last quarter. First Financial Bankshares Inc raised its stake in shares of General Dynamics by 2.6% in the third quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company's stock worth $408,000 after acquiring an additional 30 shares during the last quarter. Steph & Co. raised its stake in shares of General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock worth $26,000 after acquiring an additional 30 shares during the last quarter. Finally, Revolve Wealth Partners LLC raised its stake in shares of General Dynamics by 3.3% in the fourth quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company's stock worth $329,000 after acquiring an additional 31 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GD shares. Morgan Stanley boosted their target price on shares of General Dynamics from $410.00 to $435.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. TD Cowen boosted their target price on shares of General Dynamics from $370.00 to $390.00 and gave the stock a "buy" rating in a research note on Wednesday, January 14th. DA Davidson dropped their target price on shares of General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Argus boosted their target price on shares of General Dynamics from $380.00 to $395.00 and gave the stock a "buy" rating in a research note on Thursday, February 19th. Finally, Citigroup dropped their target price on shares of General Dynamics from $389.00 to $380.00 and set a "neutral" rating for the company in a research note on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, General Dynamics currently has an average rating of "Moderate Buy" and an average price target of $388.70.

General Dynamics Stock Up 0.9%

Shares of NYSE:GD opened at $348.96 on Tuesday. General Dynamics Corporation has a one year low of $267.39 and a one year high of $369.70. The company has a 50 day moving average of $345.59 and a 200-day moving average of $346.34. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The stock has a market cap of $94.37 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 2.28 and a beta of 0.34.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company had revenue of $13.48 billion during the quarter, compared to analysts' expectations of $12.70 billion. During the same quarter in the previous year, the company earned $3.66 EPS. General Dynamics's revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts forecast that General Dynamics Corporation will post 16.46 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 10th will be given a dividend of $1.59 per share. The ex-dividend date is Friday, April 10th. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. This is a positive change from General Dynamics's previous quarterly dividend of $1.50. General Dynamics's dividend payout ratio is presently 40.03%.

Insider Buying and Selling at General Dynamics

In other news, EVP Marguerite Amy Gilliland sold 3,819 shares of General Dynamics stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the completion of the sale, the executive vice president owned 44,767 shares in the company, valued at $15,825,134.50. The trade was a 7.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Lagrand Burns sold 10,153 shares of General Dynamics stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $354.95, for a total transaction of $3,603,807.35. Following the sale, the executive vice president owned 38,975 shares of the company's stock, valued at approximately $13,834,176.25. This represents a 20.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 51,260 shares of company stock worth $18,133,971 in the last 90 days. Corporate insiders own 1.40% of the company's stock.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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