Nisa Investment Advisors LLC Has $22.82 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Nisa Investment Advisors LLC decreased its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,605 shares of the aerospace company’s stock after selling 1,192 shares during the quarter. Nisa Investment Advisors LLC’s holdings in General Dynamics were worth $22,820,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in shares of General Dynamics by 0.8% in the third quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock valued at $4,292,851,000 after acquiring an additional 109,618 shares during the period. State Street Corp boosted its position in shares of General Dynamics by 9.4% in the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after acquiring an additional 943,247 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of General Dynamics by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock valued at $2,366,124,000 after acquiring an additional 189,904 shares during the period. Geode Capital Management LLC boosted its position in shares of General Dynamics by 13.0% in the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after acquiring an additional 638,342 shares during the period. Finally, FMR LLC boosted its position in shares of General Dynamics by 0.5% in the third quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock valued at $1,493,030,000 after acquiring an additional 24,464 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insiders Place Their Bets

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 stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares in the company, valued at approximately $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 accessible through this link. Company insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD opened at $268.62 on Thursday. The company has a market capitalization of $73.86 billion, a PE ratio of 20.46, a P/E/G ratio of 1.41 and a beta of 0.61. The company has a 50 day simple moving average of $271.10 and a two-hundred day simple moving average of $288.01. 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 Co. has a fifty-two week low of $247.88 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share 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 net margin of 7.90% and a return on equity of 16.59%. The business’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 anticipate that General Dynamics Co. will post 13.73 earnings per share for the current year.

General Dynamics declared that its board has initiated a share repurchase program on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to repurchase 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

Analysts Set New Price Targets

GD has been the subject of several recent analyst reports. The Goldman Sachs Group cut shares of General Dynamics from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $283.00 to $245.00 in a research report on Thursday, December 12th. Wolfe Research cut shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Royal Bank of Canada cut shares of General Dynamics from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $330.00 to $290.00 in a research report on Thursday, December 19th. Wells Fargo & Company cut their price objective on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Finally, Vertical Research cut shares of General Dynamics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $304.88.

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.