Atlas Legacy Advisors LLC Acquires Shares of 2,087 General Dynamics Co. (NYSE:GD)

Atlas Legacy Advisors LLC purchased a new stake in General Dynamics Co. (NYSE:GD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,087 shares of the aerospace company's stock, valued at approximately $550,000.

Several other institutional investors have also modified their holdings of the business. Bank of Jackson Hole Trust purchased a new stake in shares of General Dynamics in the 4th quarter valued at approximately $916,000. Mcdonald Partners LLC increased its stake in General Dynamics by 6.8% in the fourth quarter. Mcdonald Partners LLC now owns 5,542 shares of the aerospace company's stock valued at $1,460,000 after purchasing an additional 351 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its stake in General Dynamics by 55.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 11,849 shares of the aerospace company's stock valued at $3,122,000 after acquiring an additional 4,214 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of General Dynamics in the 4th quarter worth $6,915,000. Finally, Kestra Investment Management LLC acquired a new position in shares of General Dynamics during the 4th quarter worth $59,000. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Stock Performance

General Dynamics stock traded down $3.19 on Friday, reaching $243.02. 1,947,405 shares of the stock were exchanged, compared to its average volume of 1,735,765. The stock has a market cap of $65.70 billion, a PE ratio of 17.82, a PEG ratio of 1.68 and a beta of 0.61. The firm has a fifty day moving average price of $260.08 and a two-hundred day moving average price of $282.84. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last announced 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%. Sell-side analysts anticipate that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were paid a $1.42 dividend. The ex-dividend date was Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.34%. General Dynamics's payout ratio is 41.64%.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the business's 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 transaction, the director now directly owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GD. Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $303.00 to $295.00 and set a "hold" rating for the company in a research report on Thursday, January 2nd. Jefferies Financial Group reaffirmed a "hold" rating and set a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. UBS Group decreased their target price on General Dynamics from $337.00 to $281.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. Vertical Research cut General Dynamics from a "buy" rating to a "hold" rating and lowered their target price for the company from $352.00 to $290.00 in a research report on Monday, January 6th. Finally, Susquehanna reduced their price objective on General Dynamics from $315.00 to $300.00 and set a "positive" rating for the company in a research note on Thursday, January 30th. 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. According to data from MarketBeat, General Dynamics currently has an average rating of "Hold" and an average target price of $298.59.

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.