ICA Group Wealth Management LLC Takes $78,000 Position in General Dynamics Co. (NYSE:GD)

ICA Group Wealth Management LLC bought a new stake in General Dynamics Co. (NYSE:GD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 301 shares of the aerospace company’s stock, valued at approximately $78,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GD. Norges Bank purchased a new position in General Dynamics in the 4th quarter worth about $728,284,000. Wellington Management Group LLP increased its stake in General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after buying an additional 1,755,276 shares during the period. International Assets Investment Management LLC increased its stake in General Dynamics by 10,763.2% in the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after buying an additional 915,091 shares during the period. 1832 Asset Management L.P. increased its stake in General Dynamics by 3,645.4% in the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after buying an additional 543,672 shares during the period. Finally, FMR LLC increased its stake in General Dynamics by 13.7% in the 3rd quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after buying an additional 275,947 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 1.4 %

Shares of General Dynamics stock opened at $298.00 on Wednesday. The company has a market cap of $81.76 billion, a P/E ratio of 24.31, a PEG ratio of 1.66 and a beta of 0.64. General Dynamics Co. has a 52-week low of $209.25 and a 52-week high of $302.42. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average price is $292.81 and its 200-day moving average price is $275.62.

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

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio is presently 46.33%.

Insiders Place Their Bets

In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the sale, the chief financial officer now owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the sale, the chief financial officer now owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,486 shares of company stock valued at $34,391,642. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays raised their price target on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. The Goldman Sachs Group raised their target price on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada cut their target price on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Finally, Argus raised their target price on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.63.

General Dynamics Company 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.