Asset Planning Inc bought a new stake in shares of General Dynamics Co. (NYSE:GD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,092 shares of the aerospace company's stock, valued at approximately $288,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Creative Planning lifted its position in shares of General Dynamics by 4.2% during the 3rd quarter. Creative Planning now owns 46,948 shares of the aerospace company's stock valued at $14,188,000 after buying an additional 1,906 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of General Dynamics by 2.9% in the third quarter. Cornerstone Wealth Management LLC now owns 5,775 shares of the aerospace company's stock worth $1,745,000 after purchasing an additional 162 shares during the last quarter. Kowal Investment Group LLC increased its stake in General Dynamics by 2.0% in the 3rd quarter. Kowal Investment Group LLC now owns 3,110 shares of the aerospace company's stock worth $940,000 after acquiring an additional 61 shares during the last quarter. Mezzasalma Advisors LLC raised its position in shares of General Dynamics by 8.3% during the 3rd quarter. Mezzasalma Advisors LLC now owns 1,602 shares of the aerospace company's stock valued at $484,000 after buying an additional 123 shares in the last quarter. Finally, Good Life Advisors LLC boosted its holdings in shares of General Dynamics by 114.1% in the 3rd quarter. Good Life Advisors LLC now owns 9,372 shares of the aerospace company's stock worth $2,831,000 after purchasing an additional 4,995 shares during the period. Institutional investors own 86.14% of the company's stock.
Insider Buying and Selling
In related news, Director Laura J. Schumacher sold 1,796 shares of the business's stock in a transaction on 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares of the company's stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.
General Dynamics Stock Up 0.2 %
General Dynamics stock traded up $0.52 during mid-day trading on Tuesday, reaching $242.46. 2,113,467 shares of the company were exchanged, compared to its average volume of 1,729,067. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The firm has a market cap of $66.67 billion, a P/E ratio of 17.78, a PEG ratio of 1.61 and a beta of 0.61. The business has a fifty day moving average of $261.40 and a 200 day moving average of $283.72. General Dynamics Co. has a 12-month low of $239.87 and a 12-month high of $316.90.
General Dynamics (NYSE:GD - Get Free Report) last issued 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 return on equity of 17.10% and a net margin of 7.93%. Research analysts anticipate that General Dynamics Co. will post 14.84 earnings per share for the current fiscal year.
General Dynamics declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.
General Dynamics Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics's payout ratio is currently 41.64%.
Analysts Set New Price Targets
Several brokerages have recently weighed in on GD. Wells Fargo & Company reduced their target price on shares of General Dynamics from $279.00 to $276.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 30th. Baird R W lowered General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Vertical Research downgraded General Dynamics from a "buy" rating to a "hold" rating and cut their price objective for the company from $352.00 to $290.00 in a research report on Monday, January 6th. The Goldman Sachs Group decreased their target price on General Dynamics from $245.00 to $241.00 and set a "sell" rating for the company in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. cut their price target on shares of General Dynamics from $307.00 to $284.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $298.59.
Read Our Latest Stock Analysis on General Dynamics
General Dynamics Company Profile
(
Free Report)
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.
Further Reading
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