Goldstone Financial Group LLC Buys New Stake in General Dynamics Co. (NYSE:GD)

Goldstone Financial Group LLC purchased a new position in shares of General Dynamics Co. (NYSE:GD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 789 shares of the aerospace company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also modified their holdings of GD. Capital Planning LLC lifted its stake in General Dynamics by 9.8% during the 4th quarter. Capital Planning LLC now owns 1,538 shares of the aerospace company’s stock worth $405,000 after acquiring an additional 137 shares in the last quarter. KMG Fiduciary Partners LLC lifted its position in shares of General Dynamics by 5.8% during the fourth quarter. KMG Fiduciary Partners LLC now owns 16,880 shares of the aerospace company’s stock worth $4,448,000 after purchasing an additional 924 shares in the last quarter. Werlinich Asset Management LLC lifted its position in shares of General Dynamics by 3.9% during the fourth quarter. Werlinich Asset Management LLC now owns 5,580 shares of the aerospace company’s stock worth $1,470,000 after purchasing an additional 210 shares in the last quarter. Fermata Advisors LLC purchased a new position in shares of General Dynamics in the fourth quarter valued at approximately $390,000. Finally, Congress Park Capital LLC grew its holdings in shares of General Dynamics by 4.0% in the fourth quarter. Congress Park Capital LLC now owns 1,285 shares of the aerospace company’s stock valued at $339,000 after purchasing an additional 50 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Down 0.7 %

GD stock opened at $266.86 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The company has a market cap 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. General Dynamics Co. has a 12 month low of $247.36 and a 12 month high of $316.90. The company has a fifty day moving average price of $273.71 and a 200 day moving average price of $288.32.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter last year, the firm earned $3.04 EPS. The business’s revenue was up 10.4% on a year-over-year basis. Sell-side analysts expect that General Dynamics Co. will post 13.81 earnings per share for the current year.

General Dynamics announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.13%. General Dynamics’s dividend payout ratio is currently 43.26%.

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value 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. The trade was a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays decreased their price target on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group cut General Dynamics from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $283.00 to $245.00 in a research note on Thursday, December 12th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Robert W. Baird reissued a “neutral” rating and set a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research report on Tuesday. Finally, Citigroup upped their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One equities 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. According to data from MarketBeat.com, General Dynamics currently has a consensus rating of “Hold” and an average target price of $304.53.

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.