Principal Securities Inc. Has $2.15 Million Stock Position in General Dynamics Co. (NYSE:GD)

Principal Securities Inc. grew its stake in General Dynamics Co. (NYSE:GD - Free Report) by 37.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,166 shares of the aerospace company's stock after purchasing an additional 2,233 shares during the period. Principal Securities Inc.'s holdings in General Dynamics were worth $2,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. MFA Wealth Advisors LLC grew its position in 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 during the last quarter. Financial Life Planners bought a new stake in General Dynamics during the 4th quarter worth approximately $25,000. Hara Capital LLC bought a new stake in General Dynamics during the 3rd quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in General Dynamics during the 4th quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC bought a new stake in General Dynamics during the 4th quarter worth approximately $28,000. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on GD. The Goldman Sachs Group reduced their price objective on General Dynamics from $245.00 to $241.00 and set a "sell" rating on the stock in a report on Tuesday, January 28th. Vertical Research downgraded General Dynamics from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Barclays reduced their price objective on General Dynamics from $305.00 to $285.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on General Dynamics from $307.00 to $284.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Finally, TD Cowen reduced their price objective on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $298.59.

General Dynamics Trading Down 1.3 %

General Dynamics stock traded down $3.19 during mid-day trading on Friday, hitting $243.02. 1,947,405 shares of the company's stock were exchanged, compared to its average volume of 1,735,765. The firm has a market capitalization of $65.70 billion, a P/E ratio of 17.82, a PEG ratio of 1.68 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $239.87 and a fifty-two week high of $316.90. 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's 50 day simple moving average is $259.68 and its 200-day simple moving average is $282.54.

General Dynamics (NYSE:GD - Get Free Report) last issued 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 return on equity of 17.10% and a net margin of 7.93%. On average, equities analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Friday, January 17th. General Dynamics's dividend payout ratio (DPR) is presently 41.64%.

General Dynamics declared that its Board of Directors has authorized 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 buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Laura J. Schumacher sold 1,796 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the transaction, the director now owns 11,175 shares in the company, valued at $2,857,224. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.52% of the company's stock.

General Dynamics 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.