Glassy Mountain Advisors Inc. Acquires Shares of 17,886 General Dynamics Co. (NYSE:GD)

Glassy Mountain Advisors Inc. acquired a new stake in shares of General Dynamics Co. (NYSE:GD – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,886 shares of the aerospace company’s stock, valued at approximately $4,438,000. General Dynamics makes up about 2.4% of Glassy Mountain Advisors Inc.’s investment portfolio, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GD. Massachusetts Financial Services Co. MA lifted its holdings in General Dynamics by 103.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,544,906 shares of the aerospace company’s stock valued at $1,005,561,000 after purchasing an additional 2,312,118 shares in the last quarter. Vanguard Group Inc. raised its position in shares of General Dynamics by 4.5% in the third quarter. Vanguard Group Inc. now owns 21,906,138 shares of the aerospace company’s stock valued at $4,647,825,000 after buying an additional 952,906 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of General Dynamics by 31.5% in the second quarter. Goldman Sachs Group Inc. now owns 1,411,406 shares of the aerospace company’s stock valued at $312,273,000 after buying an additional 337,999 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of General Dynamics in the first quarter valued at about $59,754,000. Finally, Renaissance Technologies LLC raised its position in shares of General Dynamics by 890.8% in the second quarter. Renaissance Technologies LLC now owns 235,800 shares of the aerospace company’s stock valued at $52,171,000 after buying an additional 212,000 shares during the last quarter. 84.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GD shares. Citigroup reduced their target price on shares of General Dynamics from $298.00 to $283.00 and set a “buy” rating for the company in a research report on Thursday, January 26th. Credit Suisse Group reduced their target price on shares of General Dynamics from $240.00 to $222.00 and set a “neutral” rating for the company in a research report on Thursday, January 26th. Robert W. Baird reduced their target price on shares of General Dynamics from $290.00 to $268.00 in a research report on Thursday, January 26th. JPMorgan Chase & Co. cut their price objective on shares of General Dynamics from $260.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, January 27th. Finally, Susquehanna cut their price objective on shares of General Dynamics from $285.00 to $263.00 in a research report on Thursday, January 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $267.15.

Insider Activity

In related news, VP Mark Lagrand Burns sold 27,600 shares of General Dynamics stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $226.93, for a total value of $6,263,268.00. Following the completion of the transaction, the vice president now owns 56,909 shares in the company, valued at $12,914,359.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.

General Dynamics Trading Down 0.9 %

Shares of GD traded down $1.90 during trading on Friday, reaching $218.15. 2,413,857 shares of the company traded hands, compared to its average volume of 1,251,543. General Dynamics Co. has a twelve month low of $207.42 and a twelve month high of $256.86. The stock has a market cap of $59.87 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84. The stock has a 50-day simple moving average of $231.53 and a 200-day simple moving average of $236.80. The company has a quick ratio of 0.96, a current ratio of 1.37 and a debt-to-equity ratio of 0.50.

General Dynamics (NYSE:GD – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The aerospace company reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.53 by $0.05. General Dynamics had a net margin of 8.60% and a return on equity of 18.93%. The business had revenue of $10.85 billion during the quarter, compared to analysts’ expectations of $10.66 billion. During the same period last year, the business earned $3.39 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts anticipate that General Dynamics Co. will post 12.74 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Friday, April 14th will be paid a $1.32 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $5.28 annualized dividend and a dividend yield of 2.42%. General Dynamics’s dividend payout ratio (DPR) is presently 41.31%.

General Dynamics Company Profile

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General Dynamics Corp. is a global aerospace and defense company, which engages in design, engineering, and manufacturing to deliver state-of-the-art solutions. It operates through the following business segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets.