Cornell Pochily Investment Advisors Inc. Purchases 64 Shares of General Dynamics Co. (NYSE:GD)

Cornell Pochily Investment Advisors Inc. grew its position in shares of General Dynamics Co. (NYSE:GD) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,589 shares of the aerospace company’s stock after buying an additional 64 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in General Dynamics were worth $413,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GD. Vanguard Group Inc. grew its position in General Dynamics by 0.6% in the third quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock valued at $4,955,023,000 after acquiring an additional 133,061 shares during the last quarter. Wellington Management Group LLP grew its position in General Dynamics by 12.0% in the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after acquiring an additional 1,755,276 shares during the last quarter. State Street Corp grew its position in General Dynamics by 0.4% in the second quarter. State Street Corp now owns 9,932,541 shares of the aerospace company’s stock valued at $2,136,986,000 after acquiring an additional 39,597 shares during the last quarter. Geode Capital Management LLC grew its position in General Dynamics by 6.5% in the first quarter. Geode Capital Management LLC now owns 4,228,831 shares of the aerospace company’s stock valued at $962,711,000 after acquiring an additional 259,855 shares during the last quarter. Finally, Sanders Capital LLC boosted its stake in shares of General Dynamics by 0.4% during the third quarter. Sanders Capital LLC now owns 4,017,057 shares of the aerospace company’s stock valued at $887,649,000 after purchasing an additional 17,061 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the sale, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the sale, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark C. Roualet sold 73,330 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the sale, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GD shares. UBS Group lifted their price target on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price target on shares of General Dynamics in a research note on Thursday, January 25th. Citigroup lifted their price objective on General Dynamics from $283.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Finally, Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price on the stock. in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $271.69.

General Dynamics Stock Up 0.3 %

Shares of NYSE:GD traded up $0.78 during trading on Thursday, reaching $282.68. 114,605 shares of the stock were exchanged, compared to its average volume of 1,047,192. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $284.75. The stock has a fifty day moving average of $269.65 and a two-hundred day moving average of $251.54. The firm has a market cap of $77.56 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 1.77 and a beta of 0.68.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.68 by ($0.04). General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.39 billion. During the same period in the previous year, the company earned $3.58 earnings per share. General Dynamics’s revenue for the quarter was up 7.5% compared to the same quarter last year. Research analysts anticipate that General Dynamics Co. will post 14.59 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be given a $1.42 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio is presently 43.93%.

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.