Geode Capital Management LLC Has $1.50 Billion Stock Position in General Dynamics Co. (NYSE:GD)

Geode Capital Management LLC lifted its stake in General Dynamics Co. (NYSE:GD) by 2.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,688,672 shares of the aerospace company’s stock after buying an additional 131,268 shares during the quarter. Geode Capital Management LLC’s holdings in General Dynamics were worth $1,496,939,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Financial Life Planners bought a new position in shares of General Dynamics during the fourth quarter valued at $25,000. Whipplewood Advisors LLC acquired a new stake in shares of General Dynamics during the 4th quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new position in General Dynamics during the 4th quarter valued at about $26,000. Heck Capital Advisors LLC bought a new stake in General Dynamics during the fourth quarter worth about $28,000. Finally, Hoey Investments Inc. acquired a new stake in shares of General Dynamics during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity

In other news, 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 transaction of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. The trade was a 37.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by company insiders.

General Dynamics Stock Up 0.5 %

Shares of General Dynamics stock opened at $273.93 on Wednesday. The business has a fifty day simple moving average of $258.90 and a 200 day simple moving average of $276.19. The stock has a market cap of $74.06 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90.

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 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%. Research analysts predict that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

General Dynamics Increases Dividend

The company also recently declared 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 represents a $6.00 dividend on an annualized basis and a dividend yield of 2.19%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 43.99%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GD. BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. TD Cowen decreased their target price on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Royal Bank of Canada cut their price target on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. Barclays reduced their price target on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, William Blair cut shares of General Dynamics from an “outperform” rating to a “market perform” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $297.71.

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.