Heirloom Wealth Management Takes $4.87 Million Position in General Dynamics Co. (NYSE:GD)

Heirloom Wealth Management acquired a new stake in General Dynamics Co. (NYSE:GD) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,244 shares of the aerospace company’s stock, valued at approximately $4,871,000. General Dynamics accounts for 1.7% of Heirloom Wealth Management’s portfolio, making the stock its 21st biggest holding.

Other hedge funds also recently bought and sold shares of the company. Eudaimonia Partners LLC bought a new stake in General Dynamics during the fourth quarter valued at approximately $240,000. Benjamin F. Edwards & Company Inc. increased its stake 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 valued at $10,602,000 after acquiring an additional 26,668 shares during the last quarter. Pacer Advisors Inc. raised its position in General Dynamics by 99.3% during the fourth quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock valued at $7,542,000 after purchasing an additional 14,468 shares in the last quarter. Principal Securities Inc. bought a new stake in General Dynamics during the fourth quarter worth about $1,056,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of General Dynamics in the 3rd quarter worth about $16,077,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD traded down $1.49 during mid-day trading on Thursday, reaching $296.52. The company’s stock had a trading volume of 720,735 shares, compared to its average volume of 1,082,981. The firm’s fifty day moving average price is $288.61 and its two-hundred day moving average price is $268.84. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The stock has a market cap of $81.35 billion, a P/E ratio of 24.19, a PEG ratio of 1.69 and a beta of 0.67. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $301.48.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the prior year, the company posted $2.64 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.92%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date was Thursday, April 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GD. UBS Group boosted their price target on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Royal Bank of Canada decreased their price target on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group increased their price objective on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Citigroup lifted their target price on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.63.

Insiders Place Their Bets

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the transaction, the chief financial officer now owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Mark Lagrand Burns sold 12,089 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $296.59, for a total value of $3,585,476.51. Following the transaction, the vice president now owns 64,132 shares of the company’s stock, valued at $19,020,909.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at $23,630,670.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,486 shares of company stock worth $34,391,642. Company insiders own 1.52% of the company’s stock.

General Dynamics Company 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.