Richwood Investment Advisors LLC Reduces Stock Position in General Dynamics Co. (NYSE:GD)

Richwood Investment Advisors LLC cut its stake in General Dynamics Co. (NYSE:GD) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,814 shares of the aerospace company’s stock after selling 150 shares during the period. General Dynamics makes up approximately 0.9% of Richwood Investment Advisors LLC’s holdings, making the stock its 26th largest holding. Richwood Investment Advisors LLC’s holdings in General Dynamics were worth $990,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Alpha Family Trust purchased a new position in General Dynamics in the fourth quarter valued at about $209,000. Certified Advisory Corp boosted its position in shares of General Dynamics by 393.8% in the fourth quarter. Certified Advisory Corp now owns 953 shares of the aerospace company’s stock worth $247,000 after acquiring an additional 760 shares during the last quarter. Bard Financial Services Inc. grew its holdings in General Dynamics by 6.7% in the fourth quarter. Bard Financial Services Inc. now owns 12,045 shares of the aerospace company’s stock valued at $3,128,000 after purchasing an additional 755 shares during the period. Brandes Investment Partners LP boosted its holdings in shares of General Dynamics by 66.6% in the 4th quarter. Brandes Investment Partners LP now owns 53,167 shares of the aerospace company’s stock valued at $13,806,000 after purchasing an additional 21,249 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of General Dynamics by 6.7% during the 4th quarter. Assetmark Inc. now owns 20,380 shares of the aerospace company’s stock worth $5,292,000 after buying an additional 1,274 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP William A. Moss sold 21,050 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $294.85, for a total value of $6,206,592.50. Following the completion of the sale, the vice president now owns 16,624 shares in the company, valued at $4,901,586.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,486 shares of company stock worth $34,391,642. Company insiders own 1.60% of the company’s stock.

General Dynamics Stock Up 0.3 %

Shares of GD traded up $0.95 during midday trading on Wednesday, reaching $298.01. 881,716 shares of the stock were exchanged, compared to its average volume of 1,086,640. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $301.48. The firm has a 50 day simple moving average of $287.73 and a 200-day simple moving average of $268.44. 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 company has a market cap of $81.76 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 1.87 and a beta of 0.67.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The company had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.64 EPS. Research analysts forecast that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 12th were issued a $1.42 dividend. The ex-dividend date was Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.91%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GD shares. Argus lifted their price objective on General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and upped their price target for the stock from $305.00 to $335.00 in a research report on Monday, April 29th. Barclays increased their price target on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Royal Bank of Canada decreased their price target on General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Wells Fargo & Company raised their target price on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $300.53.

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.