Momentous Wealth Management Inc. Acquires Shares of 1,341 General Dynamics Co. (NYSE:GD)

Momentous Wealth Management Inc. bought a new stake in General Dynamics Co. (NYSE:GD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,341 shares of the aerospace company’s stock, valued at approximately $353,000. General Dynamics comprises 0.3% of Momentous Wealth Management Inc.’s investment portfolio, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GD. Empowered Funds LLC grew its stake in shares of General Dynamics by 15.3% during the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock worth $2,553,000 after buying an additional 1,283 shares during the last quarter. Kentucky Trust Co bought a new position in General Dynamics during the fourth quarter worth $607,000. Hickory Point Bank & Trust bought a new stake in shares of General Dynamics during the fourth quarter valued at approximately $692,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of General Dynamics by 69.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock valued at $69,032,000 after buying an additional 107,095 shares during the last quarter. Finally, Atlas Legacy Advisors LLC purchased a new stake in shares of General Dynamics in the fourth quarter worth approximately $550,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of GD stock opened at $265.94 on Tuesday. The firm has a market cap of $71.90 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.69 and a beta of 0.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90. The firm’s 50 day moving average price is $258.54 and its 200-day moving average price is $277.45.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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 net margin of 7.93% and a return on equity of 17.10%. As a group, equities research analysts predict that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.26%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. General Dynamics’s dividend payout ratio (DPR) is 43.99%.

Insider Activity

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 45,192 shares of the company’s stock, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the subject of a number of research reports. William Blair downgraded shares of General Dynamics from an “outperform” rating to a “market perform” rating in a research report on Friday, February 21st. Barclays lowered their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Susquehanna lowered their price objective on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a report on Thursday, January 30th. Finally, TD Cowen lowered their price objective on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, 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.