General Dynamics Co. (NYSE:GD) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 420,032 shares of the aerospace company’s stock after acquiring an additional 43,425 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.15% of General Dynamics worth $110,624,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Empowered Funds LLC raised its stake in 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 purchasing an additional 1,283 shares during the period. Kentucky Trust Co purchased a new stake in General Dynamics during the fourth quarter worth about $607,000. Hickory Point Bank & Trust acquired a new stake in General Dynamics during the 4th quarter worth approximately $692,000. Wealth Enhancement Advisory Services LLC grew its stake in General Dynamics by 69.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock worth $69,032,000 after purchasing an additional 107,095 shares in the last quarter. Finally, Atlas Legacy Advisors LLC acquired a new stake in General Dynamics in the fourth quarter valued at approximately $550,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Up 0.0 %

Shares of GD opened at $269.60 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The firm has a market cap of $72.89 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The company’s fifty day moving average is $258.69 and its two-hundred day moving average is $277.17. General Dynamics Co. has a fifty-two week low of $239.87 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.23%. 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 payout ratio is presently 43.99%.

General Dynamics declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GD. Barclays decreased their price target on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. The Goldman Sachs Group reduced their target price on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a report on Tuesday, January 28th. Robert W. Baird reiterated a “neutral” rating and issued a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $297.71.

Insiders Place Their Bets

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now owns 45,192 shares of the company’s stock, valued at $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is owned by company insiders.

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.