General Dynamics Co. (NYSE:GD) Holdings Raised by Cibc World Markets Corp

Cibc World Markets Corp increased its position in shares of General Dynamics Co. (NYSE:GD) by 18.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,624 shares of the aerospace company’s stock after purchasing an additional 6,058 shares during the quarter. Cibc World Markets Corp’s holdings in General Dynamics were worth $10,441,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in shares of General Dynamics in the 4th quarter worth about $25,000. Whipplewood Advisors LLC acquired a new stake in General Dynamics during the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC bought a new position in General Dynamics in the fourth quarter worth about $26,000. Sugar Maple Asset Management LLC acquired a new position in General Dynamics in the fourth quarter valued at approximately $28,000. Finally, Heck Capital Advisors LLC bought a new position in shares of General Dynamics during the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE GD opened at $267.51 on Wednesday. The firm has a 50-day moving average of $258.20 and a two-hundred day moving average of $278.32. The company has a market capitalization of $72.32 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.69 and a beta of 0.59. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90.

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

General Dynamics announced that its Board of Directors has approved a share buyback program on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.24%. 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 payout ratio is presently 43.99%.

Insider Transactions at General Dynamics

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GD. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. TD Cowen lowered their price target on shares of General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Barclays cut their price objective 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. Wells Fargo & Company upped their target price on shares of General Dynamics from $244.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Friday, March 7th. Finally, Susquehanna cut their price target on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a report on Thursday, January 30th. One research 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. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Hold” and an average target price of $297.71.

About General Dynamics

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.