Perigon Wealth Management LLC Has $1.74 Million Stock Position in General Dynamics Co. (NYSE:GD)

Perigon Wealth Management LLC raised its position in General Dynamics Co. (NYSE:GD - Free Report) by 90.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,483 shares of the aerospace company's stock after purchasing an additional 3,078 shares during the quarter. Perigon Wealth Management LLC's holdings in General Dynamics were worth $1,743,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company's stock worth $416,876,000 after acquiring an additional 1,376,065 shares in the last quarter. State Street Corp boosted its position in General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company's stock worth $3,307,612,000 after purchasing an additional 943,247 shares during the period. Geode Capital Management LLC raised its position in shares of General Dynamics by 13.0% in the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company's stock valued at $1,674,998,000 after purchasing an additional 638,342 shares during the period. Two Sigma Advisers LP lifted its stake in shares of General Dynamics by 117.0% in the third quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company's stock worth $259,469,000 after buying an additional 463,000 shares during the last quarter. Finally, Barclays PLC grew its stake in General Dynamics by 43.1% in the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company's stock valued at $284,818,000 after buying an additional 283,972 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Price Performance

Shares of NYSE GD traded up $5.48 during mid-day trading on Thursday, hitting $256.93. 2,212,013 shares of the stock were exchanged, compared to its average volume of 1,764,526. 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 company has a market cap of $70.65 billion, a P/E ratio of 19.57, a PEG ratio of 1.43 and a beta of 0.61. The stock's fifty day simple moving average is $268.00 and its two-hundred day simple moving average is $287.23. General Dynamics Co. has a twelve month low of $247.01 and a twelve month high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. As a group, analysts forecast that General Dynamics Co. will post 13.66 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.21%. General Dynamics's payout ratio is currently 43.26%.

General Dynamics declared that its board has approved a stock buyback plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GD shares. Citigroup boosted their price objective on General Dynamics from $354.00 to $360.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Robert W. Baird reissued a "neutral" rating and issued a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Dynamics from $303.00 to $295.00 and set a "hold" rating for the company in a research note on Thursday, January 2nd. Royal Bank of Canada dropped their price objective on shares of General Dynamics from $290.00 to $280.00 and set a "sector perform" rating on the stock in a report on Thursday. Finally, Seaport Res Ptn cut shares of General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Dynamics presently has a consensus rating of "Hold" and an average price target of $301.24.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The shares were 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 in the company, 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 legal filing with the SEC, which is available through this link. 1.52% of the stock is currently owned by corporate insiders.

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.