Riverview Capital Advisers LLC Makes New $5.27 Million Investment in General Dynamics Co. (NYSE:GD)

Riverview Capital Advisers 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,010 shares of the aerospace company's stock, valued at approximately $5,272,000. General Dynamics accounts for 1.6% of Riverview Capital Advisers LLC's investment portfolio, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Castlekeep Investment Advisors LLC bought a new stake in shares of General Dynamics in the fourth quarter worth about $279,582,000. Raymond James Financial Inc. bought a new stake in shares of General Dynamics in the fourth quarter worth about $197,238,000. Vanguard Group Inc. increased its holdings in shares of General Dynamics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company's stock worth $6,265,813,000 after acquiring an additional 706,317 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of General Dynamics by 7.4% in the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock worth $1,774,381,000 after acquiring an additional 463,497 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of General Dynamics by 43.1% in the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company's stock worth $284,818,000 after acquiring an additional 283,972 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

NYSE:GD traded up $2.03 during mid-day trading on Friday, hitting $280.54. 1,173,759 shares of the stock were exchanged, compared to its average volume of 1,376,364. 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. The stock has a market capitalization of $75.29 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.69 and a beta of 0.49. The firm's 50-day simple moving average is $269.70 and its 200 day simple moving average is $268.81.

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

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 11th were given a $1.50 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from General Dynamics's previous quarterly dividend of $1.42. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

Insider Buying and Selling

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business's stock in a transaction on Monday, March 10th. The stock was 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays decreased their price objective on General Dynamics from $305.00 to $285.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research report on Thursday, April 24th. Wells Fargo & Company lowered their price target on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. BTIG Research lowered General Dynamics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 13th. Finally, Citigroup lowered their price target on General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $293.00.

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.