Cornerstone Planning LLC Purchases Shares of 10,107 General Dynamics Corporation $GD

Cornerstone Planning LLC acquired a new position in shares of General Dynamics Corporation (NYSE:GD) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 10,107 shares of the aerospace company’s stock, valued at approximately $3,416,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rockefeller Capital Management L.P. increased its position in shares of General Dynamics by 12.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 106,218 shares of the aerospace company’s stock worth $35,760,000 after purchasing an additional 11,806 shares in the last quarter. World Investment Advisors boosted its position in General Dynamics by 12.1% in the fourth quarter. World Investment Advisors now owns 23,413 shares of the aerospace company’s stock valued at $7,882,000 after buying an additional 2,526 shares in the last quarter. Nalls Sherbakoff Group LLC bought a new stake in General Dynamics during the fourth quarter worth about $124,000. Eos Management L.P. increased its holdings in shares of General Dynamics by 12.9% during the fourth quarter. Eos Management L.P. now owns 5,061 shares of the aerospace company’s stock worth $1,704,000 after buying an additional 580 shares in the last quarter. Finally, Meadowbrook Advisors Group LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth approximately $2,377,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

Shares of GD stock opened at $350.39 on Friday. The firm has a market cap of $94.76 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.17 and a beta of 0.34. General Dynamics Corporation has a 12 month low of $275.49 and a 12 month high of $369.70. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $341.10 and a 200 day moving average price of $347.20.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.66 EPS. Research analysts expect that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be issued a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, July 2nd. General Dynamics’s dividend payout ratio is currently 40.03%.

Insider Transactions at General Dynamics

In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of General Dynamics stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. The trade was a 48.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

GD has been the topic of several recent analyst reports. UBS Group raised General Dynamics from a “neutral” rating to a “buy” rating in a report on Thursday, June 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $385.00 price target on shares of General Dynamics in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings cut General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 19th. Finally, Jefferies Financial Group upgraded General Dynamics from a “hold” rating to a “buy” rating and raised their target price for the company from $380.00 to $400.00 in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and a consensus price target of $388.40.

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.