Pine Valley Investments Ltd Liability Co Acquires 352 Shares of General Dynamics Co. (NYSE:GD)

Pine Valley Investments Ltd Liability Co increased its holdings in General Dynamics Co. (NYSE:GD) by 4.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,078 shares of the aerospace company’s stock after buying an additional 352 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in General Dynamics were worth $2,743,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. MFA Wealth Advisors LLC boosted its stake in General Dynamics by 241.7% in 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 in the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics in the 3rd quarter worth $26,000. American Capital Advisory LLC purchased a new position in General Dynamics during the 2nd quarter worth $29,000. Lowe Wealth Advisors LLC acquired a new position in General Dynamics during the 3rd quarter valued at about $30,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in General Dynamics by 120.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction 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 owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on GD. Royal Bank of Canada increased their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group downgraded shares of General Dynamics from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $283.00 to $245.00 in a research note on Thursday. Sanford C. Bernstein reduced their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Citigroup lifted their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $317.38.

General Dynamics Trading Down 0.9 %

GD stock opened at $263.04 on Friday. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The firm has a market cap of $72.33 billion, a P/E ratio of 20.03, a PEG ratio of 1.63 and a beta of 0.59. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company’s 50-day simple moving average is $293.31 and its 200-day simple moving average is $294.20.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $11.65 billion. During the same quarter in the prior year, the company posted $3.04 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. As a group, equities analysts forecast that General Dynamics Co. will post 13.87 EPS for the current fiscal year.

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

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

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.