General Dynamics Co. (NYSE:GD) Stake Boosted by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. raised its position in shares of General Dynamics Co. (NYSE:GD) by 4.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,924 shares of the aerospace company’s stock after buying an additional 161 shares during the period. Geneos Wealth Management Inc.’s holdings in General Dynamics were worth $1,034,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Creative Planning raised its stake in General Dynamics by 4.6% during the 2nd quarter. Creative Planning now owns 45,042 shares of the aerospace company’s stock valued at $13,068,000 after purchasing an additional 1,988 shares during the period. NewEdge Advisors LLC raised its position in General Dynamics by 19.5% during the second quarter. NewEdge Advisors LLC now owns 38,038 shares of the aerospace company’s stock valued at $11,036,000 after buying an additional 6,205 shares during the period. Quarry LP lifted its stake in General Dynamics by 85.0% in the 2nd quarter. Quarry LP now owns 283 shares of the aerospace company’s stock worth $82,000 after acquiring an additional 130 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in General Dynamics during the 2nd quarter worth about $290,000. Finally, EP Wealth Advisors LLC grew its stake in General Dynamics by 36.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 17,740 shares of the aerospace company’s stock valued at $5,147,000 after acquiring an additional 4,711 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $269.64 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $269.27 and a 200-day simple moving average of $287.74. The stock has a market capitalization of $74.14 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.43 and a beta of 0.61. General Dynamics Co. has a 1-year low of $257.26 and a 1-year high of $316.90.

General Dynamics Dividend Announcement

The company 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 yield of 2.11%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

General Dynamics announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on GD shares. Barclays reduced 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. Citigroup lifted their target price on shares of General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Robert W. Baird restated a “neutral” rating and set a $283.00 price target (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Sanford C. Bernstein cut their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Finally, Wells Fargo & Company lowered their target price on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $304.88.

Insider Activity

In other 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 value of $1,556,241.40. Following the completion of the sale, the vice president now directly 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 this hyperlink. 1.52% of the stock is currently owned by company insiders.

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.