Corient Private Wealth LLC Has $29.88 Million Holdings in General Dynamics Co. (NYSE:GD)

Corient Private Wealth LLC increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,661 shares of the aerospace company’s stock after purchasing an additional 5,765 shares during the quarter. Corient Private Wealth LLC’s holdings in General Dynamics were worth $29,883,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Community Bank N.A. grew its holdings in shares of General Dynamics by 0.6% in the 3rd quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company’s stock valued at $1,650,000 after acquiring an additional 35 shares in the last quarter. Freedom Investment Management Inc. grew its stake in General Dynamics by 0.9% in the third quarter. Freedom Investment Management Inc. now owns 4,344 shares of the aerospace company’s stock valued at $1,313,000 after purchasing an additional 37 shares in the last quarter. Purus Wealth Management LLC grew its stake in General Dynamics by 1.5% in the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company’s stock valued at $701,000 after purchasing an additional 39 shares in the last quarter. Armstrong Advisory Group Inc. increased its position in shares of General Dynamics by 4.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,051 shares of the aerospace company’s stock worth $277,000 after purchasing an additional 40 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY boosted its holdings in shares of General Dynamics by 4.2% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,012 shares of the aerospace company’s stock valued at $306,000 after buying an additional 41 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. The Goldman Sachs Group reduced their target price on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research note on Tuesday, January 28th. Finally, Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and dropped their price target for the company from $352.00 to $290.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued 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, the company currently has an average rating of “Hold” and an average target price of $297.71.

General Dynamics Trading Up 1.3 %

Shares of GD stock opened at $265.33 on Tuesday. The stock has a market cap of $71.73 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 1 year low of $239.87 and a 1 year 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 stock has a 50 day simple moving average of $258.04 and a 200 day simple moving average of $278.54.

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

General Dynamics announced that its board has initiated a stock repurchase plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

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 dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.26%. General Dynamics’s dividend payout ratio is presently 43.99%.

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.