Centricity Wealth Management LLC Buys New Stake in General Dynamics Co. (NYSE:GD)

Centricity Wealth Management LLC purchased a new position in shares of General Dynamics Co. (NYSE:GD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 166 shares of the aerospace company’s stock, valued at approximately $44,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Financial Life Planners acquired a new stake in shares of General Dynamics during the fourth quarter worth about $25,000. Hara Capital LLC purchased a new position in General Dynamics during the 3rd quarter worth approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in General Dynamics during the fourth quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new stake in General Dynamics in the fourth quarter valued at approximately $28,000. Finally, Financial Perspectives Inc boosted its holdings in shares of General Dynamics by 195.0% in the fourth quarter. Financial Perspectives Inc now owns 118 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 78 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of NYSE GD opened at $243.02 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90. The firm has a market capitalization of $65.70 billion, a P/E ratio of 17.82, a PEG ratio of 1.68 and a beta of 0.61. The company’s fifty day moving average is $259.68 and its two-hundred day moving average is $282.54.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Analysts forecast that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

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

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics’s payout ratio is currently 41.64%.

Insider Buying and Selling

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GD has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company reduced their target price on shares of General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Royal Bank of Canada dropped their price target on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 30th. Finally, Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $298.59.

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.