Aurora Private Wealth Inc. Cuts Stock Holdings in General Dynamics Co. (NYSE:GD)

Aurora Private Wealth Inc. decreased its holdings in shares of General Dynamics Co. (NYSE:GD) by 5.9% in the 4th quarter, Holdings Channel reports. The firm owned 799 shares of the aerospace company’s stock after selling 50 shares during the period. Aurora Private Wealth Inc.’s holdings in General Dynamics were worth $211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MFA Wealth Advisors LLC grew its holdings in shares of General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC purchased a new position in shares of General Dynamics during the third quarter worth about $26,000. Sugar Maple Asset Management LLC purchased a new stake in General Dynamics in the fourth quarter worth approximately $28,000. Lowe Wealth Advisors LLC purchased a new stake in General Dynamics in the third quarter worth approximately $30,000. Finally, True Wealth Design LLC purchased a new stake in General Dynamics in the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.9 %

NYSE GD opened at $266.22 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 12 month low of $257.26 and a 12 month high of $316.90. The stock has a market cap of $73.20 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.43 and a beta of 0.61. The stock’s fifty day moving average price is $269.27 and its 200-day moving average price is $287.74.

General Dynamics declared that its board has approved a stock repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

General Dynamics Announces Dividend

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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.13%. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction dated 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 transaction, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This represents 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. 1.52% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on GD shares. Robert W. Baird reaffirmed a “neutral” rating and issued a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Susquehanna cut their target price on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Citigroup upped their target price on General Dynamics from $354.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, General Dynamics presently has a consensus rating of “Hold” and an average price target of $304.88.

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.