Northwestern Mutual Wealth Management Co. Buys 16,490 Shares of General Dynamics Co. (NYSE:GD)

Northwestern Mutual Wealth Management Co. boosted its stake in shares of General Dynamics Co. (NYSE:GD) by 89.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,867 shares of the aerospace company’s stock after buying an additional 16,490 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in General Dynamics were worth $4,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Bank of Hawaii boosted its position in General Dynamics by 0.9% during the fourth quarter. Bank of Hawaii now owns 6,054 shares of the aerospace company’s stock worth $1,068,000 after purchasing an additional 54 shares during the period. Wealthcare Advisory Partners LLC boosted its position in General Dynamics by 30.2% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 263 shares of the aerospace company’s stock worth $46,000 after purchasing an additional 61 shares during the period. Patriot Investment Management Inc. boosted its position in General Dynamics by 3.1% during the fourth quarter. Patriot Investment Management Inc. now owns 2,009 shares of the aerospace company’s stock worth $354,000 after purchasing an additional 61 shares during the period. Hills Bank & Trust Co. boosted its position in General Dynamics by 1.7% during the fourth quarter. Hills Bank & Trust Co. now owns 3,984 shares of the aerospace company’s stock worth $703,000 after purchasing an additional 65 shares during the period. Finally, Girard Partners LTD. boosted its position in General Dynamics by 3.4% during the fourth quarter. Girard Partners LTD. now owns 2,108 shares of the aerospace company’s stock worth $371,000 after purchasing an additional 69 shares during the period. Institutional investors own 86.17% of the company’s stock.

A number of equities analysts have weighed in on GD shares. Seaport Global Securities started coverage on shares of General Dynamics in a research report on Tuesday. They set a “buy” rating and a $188.00 target price for the company. Credit Suisse Group cut their price objective on shares of General Dynamics from $191.00 to $153.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Royal Bank of Canada initiated coverage on shares of General Dynamics in a research report on Wednesday. They issued an “outperform” rating and a $157.00 price objective for the company. Argus cut their price objective on shares of General Dynamics from $199.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, ValuEngine lowered shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $187.15.

Shares of GD opened at $138.57 on Friday. The firm’s 50 day simple moving average is $133.05 and its 200 day simple moving average is $162.93. The company has a market capitalization of $39.78 billion, a P/E ratio of 11.69, a P/E/G ratio of 2.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.34 and a quick ratio of 0.97. General Dynamics Co. has a 1-year low of $100.55 and a 1-year high of $193.76.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 29th. The aerospace company reported $2.43 earnings per share for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.03). The company had revenue of $8.75 billion during the quarter, compared to analysts’ expectations of $9.25 billion. General Dynamics had a net margin of 8.87% and a return on equity of 25.92%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.56 earnings per share. On average, equities analysts anticipate that General Dynamics Co. will post 11.17 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were paid a dividend of $1.10 per share. The ex-dividend date was Wednesday, April 8th. This is an increase from General Dynamics’s previous quarterly dividend of $1.02. This represents a $4.40 annualized dividend and a dividend yield of 3.18%. General Dynamics’s dividend payout ratio (DPR) is 36.73%.

General Dynamics declared that its board has approved a stock repurchase program on Wednesday, March 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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