3,022 Shares in General Dynamics Co. (NYSE:GD) Bought by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,022 shares of the aerospace company’s stock, valued at approximately $796,000.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC boosted its stake in General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after acquiring an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. grew its stake in shares of General Dynamics by 36.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after buying an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in General Dynamics by 10.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after buying an additional 3,363 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in General Dynamics by 69.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock worth $69,032,000 after acquiring an additional 107,095 shares in the last quarter. Finally, Lummis Asset Management LP grew its stake in shares of General Dynamics by 32.6% in the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock worth $3,133,000 after acquiring an additional 2,551 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.3 %

Shares of General Dynamics stock opened at $254.84 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The stock has a market capitalization of $70.07 billion, a PE ratio of 18.68, a P/E/G ratio of 1.61 and a beta of 0.61. General Dynamics Co. has a 1-year low of $247.01 and a 1-year high of $316.90. The company’s fifty day simple moving average is $264.47 and its 200-day simple moving average is $285.56.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. As a group, equities analysts anticipate that General Dynamics Co. will post 14.84 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics’s dividend payout ratio is currently 41.64%.

General Dynamics announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on GD. Barclays cut their price objective on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Wells Fargo & Company cut their target price on General Dynamics from $279.00 to $276.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Sanford C. Bernstein decreased their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, Citigroup increased their price objective on General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $300.06.

Insiders Place Their Bets

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

About General Dynamics

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.