By otakuyassine3@gmail.com 
Herbst Group LLC decreased its position in shares of General Dynamics Co. (NYSE:GD – Free Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,508 shares of the aerospace company’s stock after selling 296 shares during the quarter. General Dynamics makes up approximately 1.9% of Herbst Group LLC’s portfolio, making the stock its 23rd biggest position. Herbst Group LLC’s holdings in General Dynamics were worth $3,032,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. MFA Wealth Advisors LLC raised its stake 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 valued at $25,000 after acquiring an additional 58 shares during the last quarter. Hara Capital LLC acquired a new position in shares of General Dynamics in the third quarter worth approximately $26,000. Lowe Wealth Advisors LLC bought a new stake in General Dynamics in the third quarter valued at approximately $30,000. True Wealth Design LLC acquired a new stake in General Dynamics during the 3rd quarter valued at approximately $34,000. Finally, Coston McIsaac & Partners raised its holdings in General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.
General Dynamics Price Performance
GD opened at $266.86 on Friday. General Dynamics Co. has a fifty-two week low of $247.36 and a fifty-two week high of $316.90. The firm has a 50-day moving average of $272.86 and a 200 day moving average of $288.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The firm has a market cap of $73.38 billion, a P/E ratio of 20.32, a PEG ratio of 1.38 and a beta of 0.61.
General Dynamics (NYSE:GD – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the previous year, the business earned $3.04 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, research analysts expect that General Dynamics Co. will post 13.81 EPS for the current year.
General Dynamics declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
General Dynamics Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.13%. General Dynamics’s dividend payout ratio is presently 43.26%.
Insider Transactions at General Dynamics
In related news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
GD has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Citigroup increased their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and cut their price target for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Barclays lowered their target price on General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $304.53.
Check Out Our Latest Stock Report on General Dynamics
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.
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