Surevest Inc. acquired a new position in General Dynamics Co. (NYSE:GD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,020 shares of the aerospace company’s stock, valued at approximately $318,000.

A number of other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in General Dynamics by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 1,914,278 shares of the aerospace company’s stock valued at $391,891,000 after acquiring an additional 29,753 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in General Dynamics by 256.4% during the third quarter. Ontario Teachers Pension Plan Board now owns 7,364 shares of the aerospace company’s stock valued at $1,508,000 after acquiring an additional 5,298 shares during the period. Schroder Investment Management Group boosted its holdings in General Dynamics by 8.2% during the third quarter. Schroder Investment Management Group now owns 183,536 shares of the aerospace company’s stock valued at $37,574,000 after acquiring an additional 13,961 shares during the period. Virtu Financial LLC bought a new stake in General Dynamics during the third quarter valued at about $682,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of General Dynamics during the third quarter valued at about $378,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

In other news, VP Christopher J. Brady sold 2,327 shares of General Dynamics stock in a transaction on Monday, February 4th. The shares were sold at an average price of $171.23, for a total transaction of $398,452.21. Following the transaction, the vice president now directly owns 5,134 shares of the company’s stock, valued at $879,094.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gary L. Whited sold 14,640 shares of General Dynamics stock in a transaction on Friday, March 8th. The stock was sold at an average price of $165.38, for a total transaction of $2,421,163.20. Following 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 three months, insiders have sold 21,547 shares of company stock worth $3,609,299. Insiders own 6.90% of the company’s stock.

GD stock traded up $0.91 during midday trading on Thursday, reaching $167.47. The company’s stock had a trading volume of 1,652 shares, compared to its average volume of 1,404,447. 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 $48.10 billion, a PE ratio of 14.68, a PEG 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.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.09. The company had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.34 billion. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period last year, the firm posted $2.50 earnings per share. As a group, sell-side analysts predict that General Dynamics Co. will post 11.72 earnings per share for the current fiscal year.

The company 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 $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.44%. This is a boost from General Dynamics’s previous quarterly dividend of $0.93. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 32.57%.

A number of research analysts have recently commented on the stock. Barclays cut their price objective on shares of General Dynamics from $256.00 to $210.00 and set an “overweight” rating for the company in a research report on Tuesday, December 4th. Zacks Investment Research raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Credit Suisse Group lowered shares of General Dynamics from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $190.00 to $184.00 in a research report on Friday, February 15th. Drexel Hamilton reaffirmed a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a research report on Monday, February 4th. Finally, Argus lowered shares of General Dynamics from a “buy” rating to a “hold” rating and set a $170.91 price objective for the company. in a research report on Thursday, January 31st. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. General Dynamics presently has an average rating of “Hold” and an average target price of $207.88.

WARNING: “Surevest Inc. Acquires New Holdings in General Dynamics Co. (GD)” was first published by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://www.watchlistnews.com/surevest-inc-acquires-new-holdings-in-general-dynamics-co-gd/2923944.html.

About General Dynamics

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.

Featured Article: Trading Penny Stocks

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD).

Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.