Sierra Summit Advisors LLC Has $1.23 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Sierra Summit Advisors LLC lifted its position in General Dynamics Co. (NYSE:GD) by 34.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,672 shares of the aerospace company’s stock after buying an additional 1,208 shares during the quarter. Sierra Summit Advisors LLC’s holdings in General Dynamics were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission.

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

General Dynamics Stock Performance

General Dynamics stock opened at $249.94 on Monday. General Dynamics Co. has a 1 year low of $239.38 and a 1 year high of $316.90. The company’s 50-day moving average is $258.75 and its two-hundred day moving average is $275.35. 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 company has a market cap of $67.08 billion, a PE ratio of 18.32, a PEG ratio of 1.69 and a beta of 0.43.

General Dynamics (NYSE:GD) last issued its earnings results 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%. Equities analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be given a dividend of $1.50 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Friday, April 11th. General Dynamics’s payout ratio is presently 43.99%.

Insider Activity

In related news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares in the company, valued at $2,857,224. This represents a 13.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares in the company, valued at approximately $12,297,195.12. This represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Cowen lowered their price objective on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Robert W. Baird restated a “neutral” rating and issued a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Royal Bank of Canada cut their price objective on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Dynamics has an average rating of “Hold” and an average price target of $298.59.

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.