Bartlett & CO. Wealth Management LLC Acquires 3,560 Shares of General Dynamics Co. (NYSE:GD)

Bartlett & CO. Wealth Management LLC raised its holdings in General Dynamics Co. (NYSE:GD) by 2.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 144,664 shares of the aerospace company’s stock after acquiring an additional 3,560 shares during the quarter. Bartlett & CO. Wealth Management LLC owned approximately 0.05% of General Dynamics worth $38,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of GD. Evergreen Capital Management LLC grew its stake in General Dynamics by 150.4% in the second quarter. Evergreen Capital Management LLC now owns 3,989 shares of the aerospace company’s stock worth $1,157,000 after purchasing an additional 2,396 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of General Dynamics by 60.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 44,608 shares of the aerospace company’s stock worth $12,943,000 after buying an additional 16,826 shares in the last quarter. Insigneo Advisory Services LLC grew its position in shares of General Dynamics by 2.9% during the 2nd quarter. Insigneo Advisory Services LLC now owns 2,914 shares of the aerospace company’s stock worth $833,000 after buying an additional 83 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of General Dynamics by 8.9% in the second quarter. Fred Alger Management LLC now owns 8,351 shares of the aerospace company’s stock valued at $2,423,000 after acquiring an additional 679 shares in the last quarter. Finally, Albar Capital Ltd purchased a new stake in General Dynamics in the second quarter worth about $4,252,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GD. Jefferies Financial Group restated a “hold” rating and issued a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Barclays dropped their price target on General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company cut their target price on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. Finally, TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $304.88.

General Dynamics Stock Down 1.1 %

Shares of General Dynamics stock opened at $268.62 on Thursday. The business has a 50-day moving average price of $271.10 and a 200 day moving average price of $288.01. General Dynamics Co. has a fifty-two week low of $247.88 and a fifty-two week high of $316.90. The firm has a market cap of $73.86 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.44 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period last year, the firm posted $3.04 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that General Dynamics Co. will post 13.71 earnings per share for the current fiscal year.

General Dynamics declared that its board has initiated a stock buyback program on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

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.