Fayez Sarofim & Co Acquires 73 Shares of General Dynamics Co. (NYSE:GD)

Fayez Sarofim & Co lifted its stake in General Dynamics Co. (NYSE:GD) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,721 shares of the aerospace company’s stock after acquiring an additional 73 shares during the quarter. Fayez Sarofim & Co’s holdings in General Dynamics were worth $2,034,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Empowered Funds LLC raised its holdings in shares of General Dynamics by 15.3% in the 4th quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after purchasing an additional 1,283 shares during the period. Kentucky Trust Co bought a new position in shares of General Dynamics during the 4th quarter worth approximately $607,000. Hickory Point Bank & Trust bought a new stake in General Dynamics in the 4th quarter valued at $692,000. Wealth Enhancement Advisory Services LLC boosted its position in General Dynamics by 69.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock worth $69,032,000 after purchasing an additional 107,095 shares during the period. Finally, Atlas Legacy Advisors LLC bought a new position in shares of General Dynamics in the fourth quarter valued at about $550,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the transaction, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the sale, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. The trade was a 37.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

General Dynamics Stock Down 1.1 %

GD stock opened at $272.99 on Tuesday. The firm has a 50-day moving average price of $261.97 and a 200-day moving average price of $272.50. General Dynamics Co. has a 12 month low of $239.20 and a 12 month high of $316.90. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $73.27 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 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 research analysts anticipate that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio is presently 43.99%.

Wall Street Analyst Weigh In

Several research firms have weighed in on GD. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Citigroup decreased their price objective on General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Susquehanna boosted their target price on shares of General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research report on Wednesday, April 2nd. Wells Fargo & Company dropped their price objective on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $294.47.

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.