Concurrent Investment Advisors LLC Raises Stake in General Dynamics Co. (NYSE:GD)

Concurrent Investment Advisors LLC boosted its holdings in General Dynamics Co. (NYSE:GD) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,479 shares of the aerospace company’s stock after purchasing an additional 300 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in General Dynamics were worth $4,079,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MFA Wealth Advisors LLC boosted its position in shares of General Dynamics by 241.7% in the 3rd 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 General Dynamics during the third quarter valued at $26,000. Financial Life Planners bought a new stake in General Dynamics in the fourth quarter worth $25,000. Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics in the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of General Dynamics during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of NYSE GD opened at $246.25 on Friday. General Dynamics Co. has a 12-month low of $239.87 and a 12-month high of $316.90. The firm has a market capitalization of $66.58 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $260.08 and a 200 day moving average of $282.84.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. On average, research analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a dividend of $1.42 per share. The ex-dividend date was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.31%. General Dynamics’s payout ratio is currently 41.64%.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GD shares. Sanford C. Bernstein cut their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Vertical Research cut shares of General Dynamics from a “buy” rating to a “hold” rating and cut their price target for the company from $352.00 to $290.00 in a report on Monday, January 6th. UBS Group reduced their price target on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 target price (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group decreased their price target on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $298.59.

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.