Thurston Springer Miller Herd & Titak Inc. Has $2.56 Million Holdings in General Dynamics Co. (NYSE:GD)

Thurston Springer Miller Herd & Titak Inc. increased its holdings in General Dynamics Co. (NYSE:GD - Free Report) by 61.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,719 shares of the aerospace company's stock after purchasing an additional 3,701 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in General Dynamics were worth $2,561,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC grew its holdings in General Dynamics by 21.8% during the fourth quarter. Park Avenue Securities LLC now owns 10,372 shares of the aerospace company's stock valued at $2,733,000 after purchasing an additional 1,853 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in shares of General Dynamics by 4.4% during the 4th quarter. Kathmere Capital Management LLC now owns 3,697 shares of the aerospace company's stock worth $974,000 after buying an additional 155 shares during the period. Board of the Pension Protection Fund acquired a new position in General Dynamics in the 4th quarter valued at $237,000. Fifth Third Wealth Advisors LLC raised its holdings in General Dynamics by 14.7% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 9,806 shares of the aerospace company's stock worth $2,584,000 after acquiring an additional 1,260 shares during the period. Finally, Pines Wealth Management LLC acquired a new position in General Dynamics during the 4th quarter worth $944,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GD. Jefferies Financial Group reaffirmed a "hold" rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Robert W. Baird reaffirmed a "neutral" rating and issued a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday. Susquehanna reduced their price objective on General Dynamics from $330.00 to $315.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Wolfe Research cut shares of General Dynamics from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, December 11th. Finally, Citigroup increased their price target 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $304.53.

Insider Activity at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the 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 sale, the vice president now directly owns 20,296 shares of the company's stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.52% of the company's stock.

General Dynamics Price Performance

General Dynamics stock traded up $0.77 during mid-day trading on Wednesday, hitting $265.89. 1,013,525 shares of the company were exchanged, compared to its average volume of 1,394,579. The company has a market capitalization of $73.11 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The business has a fifty day moving average of $275.30 and a 200 day moving average of $288.61. General Dynamics Co. has a 1-year low of $247.36 and a 1-year high of $316.90. 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 (NYSE:GD - Get Free Report) last announced its earnings results 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 for 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 company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.04 EPS. As a group, sell-side analysts expect that General Dynamics Co. will post 13.84 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.14%. General Dynamics's dividend payout ratio (DPR) is presently 43.26%.

General Dynamics announced that its board has approved a stock buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

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.