Sagespring Wealth Partners LLC Makes New Investment in General Dynamics Co. (NYSE:GD)

Sagespring Wealth Partners LLC bought a new position in shares of General Dynamics Co. (NYSE:GD - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,636 shares of the aerospace company's stock, valued at approximately $694,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GD. Barclays PLC raised its holdings in General Dynamics by 43.1% during the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company's stock worth $284,818,000 after buying an additional 283,972 shares during the last quarter. Tudor Financial Inc. bought a new stake in General Dynamics during the third quarter worth $393,000. Pine Valley Investments Ltd Liability Co boosted its position in General Dynamics by 4.0% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,078 shares of the aerospace company's stock worth $2,743,000 after purchasing an additional 352 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of General Dynamics during the 3rd quarter worth $3,892,000. Finally, Arvest Bank Trust Division purchased a new position in shares of General Dynamics in the 3rd quarter worth about $20,667,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GD shares. Barclays dropped their target price on shares of General Dynamics from $305.00 to $285.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on General Dynamics from $307.00 to $284.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. William Blair lowered shares of General Dynamics from an "outperform" rating to a "market perform" rating in a research report on Friday, February 21st. BTIG Research lowered shares of General Dynamics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 13th. Finally, TD Cowen lowered their target price on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given 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 an average price target of $294.47.

General Dynamics Price Performance

NYSE:GD traded down $0.93 during midday trading on Friday, hitting $275.70. The company had a trading volume of 1,721,990 shares, compared to its average volume of 1,361,597. The company has a market capitalization of $73.99 billion, a PE ratio of 20.21, a P/E/G ratio of 1.69 and a beta of 0.43. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 52-week low of $239.20 and a 52-week high of $316.90. The stock's fifty day moving average price is $261.54 and its 200-day moving average price is $272.70.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing analysts' consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. As a group, research analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be paid a dividend of $1.50 per share. This is a boost from General Dynamics's previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics's dividend payout ratio (DPR) is 43.99%.

Insider Activity

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares of the company's stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the company's 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 transaction, the senior vice president now directly owns 45,192 shares of the company's stock, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

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.