Edge Wealth Management LLC Cuts Holdings in General Dynamics Co. (NYSE:GD)

Edge Wealth Management LLC trimmed its stake in General Dynamics Co. (NYSE:GD - Free Report) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,593 shares of the aerospace company's stock after selling 1,253 shares during the period. General Dynamics accounts for approximately 2.7% of Edge Wealth Management LLC's holdings, making the stock its 13th largest position. Edge Wealth Management LLC's holdings in General Dynamics were worth $13,331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Werlinich Asset Management LLC increased its stake in General Dynamics by 3.9% in the 4th quarter. Werlinich Asset Management LLC now owns 5,580 shares of the aerospace company's stock worth $1,470,000 after buying an additional 210 shares in the last quarter. Fermata Advisors LLC purchased a new stake in General Dynamics in the 4th quarter worth $390,000. Congress Park Capital LLC increased its stake in General Dynamics by 4.0% in the 4th quarter. Congress Park Capital LLC now owns 1,285 shares of the aerospace company's stock worth $339,000 after buying an additional 50 shares in the last quarter. BFI Infinity Ltd. purchased a new stake in General Dynamics in the 4th quarter worth $255,000. Finally, IFS Advisors LLC purchased a new stake in General Dynamics in the 4th quarter worth $53,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GD shares. Jefferies Financial Group restated a "hold" rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Wolfe Research lowered General Dynamics from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, December 11th. Seaport Res Ptn lowered General Dynamics from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 11th. 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 research report on Thursday, January 2nd. Finally, Royal Bank of Canada lowered General Dynamics from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $330.00 to $290.00 in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, General Dynamics presently has an average rating of "Hold" and an average target price of $304.53.

General Dynamics Trading Down 0.2 %

NYSE GD traded down $0.57 during trading on Friday, hitting $266.84. The stock had a trading volume of 739,139 shares, compared to its average volume of 1,366,614. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The stock has a market capitalization of $73.37 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 1.38 and a beta of 0.61. General Dynamics Co. has a one year low of $247.36 and a one year high of $316.90. The stock has a 50 day simple moving average of $274.45 and a 200 day simple moving average of $288.45.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.04 EPS. Sell-side analysts predict that General Dynamics Co. will post 13.81 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics's dividend payout ratio (DPR) is presently 43.26%.

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

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares of the company's stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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.