InTrack Investment Management Inc Makes New $546,000 Investment in General Dynamics Co. (NYSE:GD)

InTrack Investment Management Inc bought a new position in General Dynamics Co. (NYSE:GD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,060 shares of the aerospace company's stock, valued at approximately $546,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. MFA Wealth Advisors LLC lifted its stake in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics in the third quarter worth about $26,000. Lowe Wealth Advisors LLC bought a new stake in shares of General Dynamics during the 3rd quarter worth about $30,000. True Wealth Design LLC acquired a new position in shares of General Dynamics during the 3rd quarter valued at about $34,000. Finally, Coston McIsaac & Partners raised its stake in shares of General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company's stock valued at $53,000 after acquiring an additional 33 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

General Dynamics stock traded down $1.97 on Friday, hitting $266.86. The company's stock had a trading volume of 1,543,957 shares, compared to its average volume of 1,419,689. General Dynamics Co. has a one year low of $247.36 and a one year high of $316.90. The firm has a market cap of $73.38 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $272.86 and a 200-day moving average price of $288.19.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the company earned $3.04 EPS. On average, equities analysts anticipate that General Dynamics Co. will post 13.81 earnings per share for the current year.

General Dynamics Announces Dividend

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

General Dynamics declared that its board has approved a share repurchase program on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Royal Bank of Canada cut General Dynamics from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $330.00 to $290.00 in a research report on Thursday, December 19th. Wells Fargo & Company decreased their price objective on shares of General Dynamics from $295.00 to $279.00 and set an "equal weight" rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group reiterated a "hold" rating and issued a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Barclays cut their target price on shares of General Dynamics from $330.00 to $305.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Finally, Sanford C. Bernstein dropped their price objective on General Dynamics from $343.00 to $331.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Dynamics currently has an average rating of "Hold" and an average price target of $304.53.

Insiders Place Their Bets

In other news, VP Christopher J. Brady sold 5,540 shares of the business's 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 transaction, the vice president now directly owns 20,296 shares of the company's stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company's stock.

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.