C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases Shares of 26,242 General Dynamics Co. (NYSE:GD)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of General Dynamics Co. (NYSE:GD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,242 shares of the aerospace company's stock, valued at approximately $6,915,000.

Other large investors have also bought and sold shares of the company. MFA Wealth Advisors LLC grew its stake in shares of General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company's stock worth $25,000 after acquiring an additional 58 shares in the last quarter. Financial Life Planners bought a new position in shares of General Dynamics during the 4th quarter worth approximately $25,000. Hara Capital LLC bought a new position in shares of General Dynamics during the 3rd quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new position in shares of General Dynamics during the 4th quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC bought a new position in shares of General Dynamics during the 4th quarter worth approximately $28,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Down 1.7 %

Shares of GD stock traded down $4.18 during mid-day trading on Friday, reaching $241.98. 2,762,958 shares of the stock traded hands, compared to its average volume of 1,659,087. The stock's fifty day simple moving average is $261.96 and its two-hundred day simple moving average is $284.19. 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 company has a market cap of $66.54 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS 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%. On average, research analysts anticipate that General Dynamics Co. will post 14.84 EPS for the current fiscal year.

General Dynamics announced that its Board of Directors has approved a stock buyback program on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were paid a $1.42 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.35%. General Dynamics's dividend payout ratio (DPR) is presently 41.64%.

Insider Activity

In related news, Director Laura J. Schumacher sold 1,796 shares of the firm's stock in a transaction that occurred 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. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was 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 position. The disclosure for this sale can be found here. Insiders own 1.52% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on GD. UBS Group cut their price objective on General Dynamics from $337.00 to $281.00 and set a "neutral" rating for the company in a report on Tuesday, January 28th. Barclays cut their price objective on General Dynamics from $305.00 to $285.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada cut their price objective on General Dynamics from $290.00 to $280.00 and set a "sector perform" rating for the company in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $303.00 to $295.00 and set a "hold" rating for the company in a report on Thursday, January 2nd. Finally, 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 report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, twelve 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 MarketBeat, General Dynamics presently has a consensus 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.