Brooklyn Investment Group Increases Stake in General Dynamics Co. (NYSE:GD)

Brooklyn Investment Group raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 28.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,147 shares of the aerospace company’s stock after acquiring an additional 255 shares during the quarter. Brooklyn Investment Group’s holdings in General Dynamics were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GD. MFA Wealth Advisors LLC lifted its stake in shares of General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC bought a new stake in General Dynamics during the 3rd quarter valued at $26,000. Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the third quarter worth $30,000. True Wealth Design LLC bought a new position in shares of General Dynamics in the third quarter worth $34,000. Finally, Coston McIsaac & Partners grew its position in shares of General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GD. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein reduced their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Wolfe Research cut shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Susquehanna reduced their price target on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and an average target price of $304.53.

Insider Activity

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $266.86 on Friday. The stock has a market capitalization of $73.38 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.61. The company has a fifty day moving average of $272.86 and a 200-day moving average of $288.17. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last announced 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). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period last year, the business posted $3.04 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts expect that General Dynamics Co. will post 13.81 EPS for the current year.

General Dynamics Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.13%. General Dynamics’s payout ratio is currently 43.26%.

General Dynamics declared that its board has approved a share repurchase plan on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

About General Dynamics

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.