Merit Financial Group LLC Boosts Stock Position in General Dynamics Co. (NYSE:GD)

Merit Financial Group LLC increased its stake in General Dynamics Co. (NYSE:GD - Free Report) by 23.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,653 shares of the aerospace company's stock after buying an additional 1,641 shares during the quarter. Merit Financial Group LLC's holdings in General Dynamics were worth $2,280,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC grew its holdings in General Dynamics by 241.7% during the third 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 period. Hara Capital LLC purchased a new stake in General Dynamics in the 3rd quarter worth about $26,000. Lowe Wealth Advisors LLC bought a new stake in General Dynamics in the 3rd quarter valued at about $30,000. True Wealth Design LLC purchased a new stake in General Dynamics during the third quarter valued at about $34,000. Finally, Coston McIsaac & Partners boosted its position in General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company's stock worth $53,000 after purchasing an additional 33 shares during the period. Institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

NYSE:GD traded down $1.97 during midday trading on Monday, hitting $266.86. The company had a trading volume of 1,543,957 shares, compared to its average volume of 1,419,689. The company has a market capitalization of $73.38 billion, a PE ratio of 20.32, a P/E/G 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. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The stock's fifty day moving average price is $272.86 and its 200-day moving average price is $288.21.

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

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

General Dynamics Announces Dividend

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

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the firm'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 transaction of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of General Dynamics from $295.00 to $279.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 8th. Citigroup boosted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Baird R W lowered General Dynamics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Robert W. Baird reiterated a "neutral" rating and set a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Finally, Susquehanna dropped their price objective on General Dynamics from $330.00 to $315.00 and set a "positive" rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $304.53.

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.