Charles Schwab Investment Management Inc. Raises Holdings in General Dynamics Co. (NYSE:GD)

Charles Schwab Investment Management Inc. increased its position in shares of General Dynamics Co. (NYSE:GD) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,372,311 shares of the aerospace company’s stock after purchasing an additional 40,689 shares during the period. Charles Schwab Investment Management Inc.’s holdings in General Dynamics were worth $356,348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC grew its holdings in General Dynamics by 0.4% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 10,830 shares of the aerospace company’s stock worth $2,812,000 after acquiring an additional 41 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its position in General Dynamics by 0.4% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 10,377 shares of the aerospace company’s stock worth $2,695,000 after purchasing an additional 41 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of General Dynamics by 6.5% in the third quarter. EverSource Wealth Advisors LLC now owns 687 shares of the aerospace company’s stock worth $152,000 after acquiring an additional 42 shares during the period. Raleigh Capital Management Inc. boosted its position in General Dynamics by 2.3% during the third quarter. Raleigh Capital Management Inc. now owns 1,846 shares of the aerospace company’s stock worth $408,000 after purchasing an additional 42 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its stake in General Dynamics by 3.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,304 shares of the aerospace company’s stock valued at $339,000 after acquiring an additional 42 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GD shares. Susquehanna increased their price objective on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Wells Fargo & Company lifted their price objective on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. increased their target price on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Argus lifted their price target on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $300.53.

Insider Transactions at General Dynamics

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 768,977 shares in the company, valued at $218,773,956.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares in the company, valued at $29,816,065.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,987 shares of company stock valued at $18,836,700. 1.60% of the stock is currently owned by insiders.

General Dynamics Trading Down 0.3 %

Shares of NYSE:GD traded down $0.83 during trading on Wednesday, reaching $292.54. 291,895 shares of the stock were exchanged, compared to its average volume of 1,099,853. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $296.50. The firm’s 50-day moving average price is $283.23 and its 200 day moving average price is $264.48. The firm has a market cap of $80.26 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.80 and a beta of 0.67. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. During the same quarter last year, the business posted $2.64 EPS. General Dynamics’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a $1.42 dividend. The ex-dividend date is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.94%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is currently 46.33%.

General Dynamics 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.