Purus Wealth Management LLC Buys 39 Shares of General Dynamics Co. (NYSE:GD)

Purus Wealth Management LLC increased its position in General Dynamics Co. (NYSE:GD) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,660 shares of the aerospace company’s stock after purchasing an additional 39 shares during the quarter. Purus Wealth Management LLC’s holdings in General Dynamics were worth $701,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Fifth Third Wealth Advisors LLC raised its holdings in shares of General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after acquiring an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. raised its stake in shares of General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after acquiring an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in General Dynamics by 10.0% in the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after purchasing an additional 3,363 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of General Dynamics by 69.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock worth $69,032,000 after purchasing an additional 107,095 shares in the last quarter. Finally, Lummis Asset Management LP grew its position in General Dynamics by 32.6% during the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock worth $3,133,000 after purchasing an additional 2,551 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Trading Down 0.7 %

Shares of GD opened at $266.86 on Monday. The stock has a market cap of $73.38 billion, a PE 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. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The firm’s fifty day moving average is $272.86 and its two-hundred day moving average is $288.19.

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). The firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.04 EPS. Research analysts forecast that General Dynamics Co. will post 13.81 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

General Dynamics announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

GD has been the topic of a number of research reports. Susquehanna cut 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. Sanford C. Bernstein cut their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their target price on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $283.00 price target (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued 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, the company has a consensus rating of “Hold” and a consensus target price of $304.53.

Insider Activity

In other General Dynamics 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 in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.