Breakwater Capital Group Takes $237,000 Position in General Dynamics Co. (NYSE:GD)

Breakwater Capital Group purchased a new position in shares of General Dynamics Co. (NYSE:GD) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 840 shares of the aerospace company’s stock, valued at approximately $237,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Bank of Nova Scotia grew its stake in shares of General Dynamics by 12.7% during the third quarter. Bank of Nova Scotia now owns 24,522 shares of the aerospace company’s stock valued at $5,419,000 after purchasing an additional 2,755 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of General Dynamics by 930.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 29,890 shares of the aerospace company’s stock worth $6,605,000 after acquiring an additional 26,989 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of General Dynamics during the third quarter valued at $16,077,000. Waverly Advisors LLC increased its position in General Dynamics by 5.8% in the third quarter. Waverly Advisors LLC now owns 3,192 shares of the aerospace company’s stock worth $705,000 after purchasing an additional 175 shares during the period. Finally, Gateway Advisory LLC raised its holdings in General Dynamics by 10.0% during the 3rd quarter. Gateway Advisory LLC now owns 1,099 shares of the aerospace company’s stock worth $243,000 after purchasing an additional 100 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the transaction, the director now owns 5,518 shares of the company’s stock, valued at $1,589,184. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the transaction, the director now directly owns 5,518 shares in the company, valued at $1,589,184. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark Lagrand Burns sold 6,016 shares of General Dynamics stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $296.58, for a total transaction of $1,784,225.28. Following the sale, the vice president now owns 76,221 shares in the company, valued at $22,605,624.18. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock worth $34,391,642 in the last ninety days. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein boosted their price target on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. The Goldman Sachs Group increased their target price on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Barclays boosted their target price on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Citigroup increased their price target on shares of General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and upped their target price for the company from $305.00 to $335.00 in a research note on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $303.24.

General Dynamics Stock Performance

GD opened at $290.14 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The company has a market capitalization of $79.60 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 1.65 and a beta of 0.60. The business has a fifty day simple moving average of $294.27 and a 200 day simple moving average of $278.06. General Dynamics Co. has a 1 year low of $210.65 and a 1 year high of $302.75.

General Dynamics (NYSE:GD) last issued its quarterly 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 return on equity of 16.48% and a net margin of 7.85%. The firm had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period last year, the company posted $2.64 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Research analysts expect that General Dynamics Co. will post 14.55 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.96%. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

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.