Kerntke Otto McGlone Wealth Management Group Makes New Investment in General Dynamics Co. (NYSE:GD)

Kerntke Otto McGlone Wealth Management Group acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 875 shares of the aerospace company’s stock, valued at approximately $227,000.

Other hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its position in General Dynamics by 188.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 40,830 shares of the aerospace company’s stock worth $10,602,000 after purchasing an additional 26,668 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of General Dynamics by 99.3% in the 4th quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock worth $7,542,000 after buying an additional 14,468 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of General Dynamics during the 3rd quarter worth approximately $16,077,000. Clough Capital Partners L P acquired a new stake in General Dynamics in the 3rd quarter valued at $26,868,000. Finally, Victory Capital Management Inc. grew its position in General Dynamics by 57.7% in the third quarter. Victory Capital Management Inc. now owns 326,121 shares of the aerospace company’s stock valued at $72,063,000 after acquiring an additional 119,264 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the sale, the vice president now owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now directly owns 103,345 shares of the company’s stock, valued at approximately $29,816,065.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GD shares. Wells Fargo & Company boosted their target price on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Alembic Global Advisors cut shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective on the stock. in a research note on Monday, January 29th. JPMorgan Chase & Co. lifted their target price on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Barclays increased their price target on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Susquehanna lifted their price objective on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.06.

General Dynamics Trading Up 0.3 %

GD stock traded up $0.78 during midday trading on Friday, reaching $288.14. The company’s stock had a trading volume of 974,321 shares, compared to its average volume of 1,217,434. The business’s 50-day simple moving average is $282.47 and its 200-day simple moving average is $263.37. The stock has a market cap of $79.05 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.79 and a beta of 0.67. General Dynamics Co. has a 52 week low of $202.35 and a 52 week high of $296.50. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last released 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 during the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.64 EPS. As a group, sell-side analysts expect that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.97%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is currently 46.33%.

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.