Executive Wealth Management LLC Invests $151,000 in General Dynamics Co. (GD) Stock
Executive Wealth Management LLC purchased a new stake in General Dynamics Co. (NYSE:GD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 959 shares of the aerospace company’s stock, valued at approximately $151,000.
A number of other hedge funds have also recently made changes to their positions in the business. Ontario Teachers Pension Plan Board lifted its stake in shares of General Dynamics by 256.4% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 7,364 shares of the aerospace company’s stock worth $1,508,000 after buying an additional 5,298 shares during the last quarter. U S Global Investors Inc. lifted its stake in shares of General Dynamics by 3.4% during the 4th quarter. U S Global Investors Inc. now owns 15,151 shares of the aerospace company’s stock worth $2,382,000 after buying an additional 499 shares during the last quarter. Tompkins Financial Corp lifted its stake in shares of General Dynamics by 3.8% during the 4th quarter. Tompkins Financial Corp now owns 16,406 shares of the aerospace company’s stock worth $2,579,000 after buying an additional 608 shares during the last quarter. Iberiabank Corp lifted its stake in shares of General Dynamics by 6.0% during the 4th quarter. Iberiabank Corp now owns 10,339 shares of the aerospace company’s stock worth $1,625,000 after buying an additional 581 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of General Dynamics during the 4th quarter worth about $241,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.
NYSE:GD opened at $166.90 on Wednesday. General Dynamics Co. has a 52 week low of $143.87 and a 52 week high of $229.74. The stock has a market cap of $48.11 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.83 and a current ratio of 1.23.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.44%. This is a positive change from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 32.57%.
In other General Dynamics news, Director Lester L. Lyles sold 4,580 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $172.42, for a total value of $789,683.60. Following the transaction, the director now directly owns 12,314 shares of the company’s stock, valued at approximately $2,123,179.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Gary L. Whited sold 14,640 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following the completion of the transaction, the vice president now directly owns 30,462 shares in the company, valued at $5,037,805.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,547 shares of company stock worth $3,609,299. 6.90% of the stock is owned by insiders.
A number of analysts have recently issued reports on GD shares. Zacks Investment Research cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Cowen restated a “buy” rating on shares of General Dynamics in a research note on Wednesday, March 6th. FIG Partners upgraded shares of General Dynamics to an “add” rating in a research note on Tuesday, January 8th. Barclays cut their target price on shares of General Dynamics from $256.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, December 4th. Finally, Citigroup cut their target price on shares of General Dynamics from $195.00 to $175.00 and set a “neutral” rating for the company in a research note on Monday, January 14th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $207.88.
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General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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