Cushing Capital Partners LLC Purchases New Position in General Dynamics Co. (NYSE:GD)

Cushing Capital Partners LLC purchased a new stake in General Dynamics Co. (NYSE:GD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,481 shares of the aerospace company’s stock, valued at approximately $654,000.

Other institutional investors have also recently bought and sold shares of the company. Financial Life Planners bought a new position in General Dynamics in the 4th quarter valued at $25,000. Whipplewood Advisors LLC bought a new position in General Dynamics in the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new position in General Dynamics in the 4th quarter valued at $26,000. Sugar Maple Asset Management LLC bought a new position in General Dynamics in the 4th quarter valued at $28,000. Finally, Heck Capital Advisors LLC bought a new position in General Dynamics in the 4th quarter valued at $28,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 0.1 %

NYSE GD opened at $271.92 on Tuesday. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. 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 capitalization of $73.51 billion, a PE ratio of 19.94, a P/E/G ratio of 1.69 and a beta of 0.59. The stock has a 50-day simple moving average of $257.97 and a 200 day simple moving average of $279.63.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Research analysts forecast that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.21%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. General Dynamics’s payout ratio is presently 43.99%.

General Dynamics declared that its board has authorized a stock repurchase program on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GD. UBS Group cut their price objective on General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Barclays cut their price objective on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. Royal Bank of Canada dropped their target price on 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. Finally, BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and an average target price of $297.71.

Insider Buying and Selling at General Dynamics

In other news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the transaction, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.52% of the company’s stock.

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.