General Dynamics Co. (NYSE:GD) Shares Purchased by Brooktree Capital Management

Brooktree Capital Management boosted its holdings in General Dynamics Co. (NYSE:GD) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,796 shares of the aerospace company’s stock after acquiring an additional 75 shares during the period. General Dynamics accounts for about 2.5% of Brooktree Capital Management’s investment portfolio, making the stock its 16th largest position. Brooktree Capital Management’s holdings in General Dynamics were worth $3,063,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Briaud Financial Planning Inc purchased a new position in General Dynamics in the 3rd quarter valued at about $27,000. Rakuten Securities Inc. purchased a new position in General Dynamics in the 4th quarter valued at about $38,000. Wetzel Investment Advisors Inc. purchased a new position in General Dynamics in the 4th quarter valued at about $38,000. Operose Advisors LLC purchased a new position in General Dynamics in the 3rd quarter valued at about $40,000. Finally, Rational Advisors LLC purchased a new position in General Dynamics in the 3rd quarter valued at about $42,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In other news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the transaction, the vice president now directly owns 103,345 shares in the company, valued at $29,816,065.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares in the company, valued at $218,773,956.50. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GD shares. Royal Bank of Canada cut their price objective on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Alembic Global Advisors lowered shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective on the stock. in a report on Monday, January 29th. Susquehanna increased their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Argus increased their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wells Fargo & Company increased their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $297.06.

General Dynamics Stock Up 0.1 %

NYSE:GD traded up $0.20 during trading hours on Wednesday, hitting $287.29. The stock had a trading volume of 227,408 shares, compared to its average volume of 1,109,699. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $296.50. The business has a 50 day simple moving average of $281.59 and a two-hundred day simple moving average of $262.72. The company has a market cap of $78.82 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 1.79 and a beta of 0.68.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same period last year, the business earned $2.64 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Analysts predict that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

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.