Turning Point Benefit Group Inc. Invests $300,000 in General Dynamics Co. (NYSE:GD)

Turning Point Benefit Group Inc. bought a new stake in shares of General Dynamics Co. (NYSE:GD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,138 shares of the aerospace company’s stock, valued at approximately $300,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GD. Financial Life Planners purchased a new position in General Dynamics during the fourth quarter valued at $25,000. Hara Capital LLC purchased a new position in General Dynamics during the third quarter valued at $26,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Dynamics in the fourth quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new position in shares of General Dynamics in the fourth quarter valued at about $28,000. Finally, Financial Perspectives Inc lifted its position in shares of General Dynamics by 195.0% in the fourth quarter. Financial Perspectives Inc now owns 118 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 78 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Trading Down 1.3 %

GD opened at $243.02 on Friday. The stock has a market cap of $65.70 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 1.68 and a beta of 0.61. The stock’s 50 day moving average price is $259.68 and its 200-day moving average price is $282.54. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. On average, equities analysts forecast that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were issued a $1.42 dividend. The ex-dividend date was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.34%. General Dynamics’s payout ratio is 41.64%.

General Dynamics announced that its board has authorized a share repurchase program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on GD shares. Susquehanna lowered their price objective on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research report on Thursday, January 30th. Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group lowered their price objective on General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research report on Tuesday, January 28th. Robert W. Baird restated 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. Finally, BTIG Research cut General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $298.59.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is owned by company 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.