CX Institutional Grows Stock Position in General Dynamics Co. (NYSE:GD)

CX Institutional grew its position in shares of General Dynamics Co. (NYSE:GD) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,777 shares of the aerospace company’s stock after buying an additional 476 shares during the period. CX Institutional’s holdings in General Dynamics were worth $2,840,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MFA Wealth Advisors LLC lifted its holdings in 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 purchasing an additional 58 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of General Dynamics during the 3rd quarter valued at approximately $26,000. Sugar Maple Asset Management LLC bought a new position in General Dynamics in the 4th quarter worth approximately $28,000. Lowe Wealth Advisors LLC purchased a new position in General Dynamics in the 3rd quarter valued at approximately $30,000. Finally, True Wealth Design LLC bought a new stake in General Dynamics during the 3rd quarter valued at $34,000. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. The Goldman Sachs Group cut General Dynamics from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $283.00 to $245.00 in a research report on Thursday, December 12th. Sanford C. Bernstein lowered their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Susquehanna decreased their price objective on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada lowered shares of General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $330.00 to $290.00 in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, General Dynamics has an average rating of “Hold” and a consensus target price of $304.88.

General Dynamics Price Performance

Shares of NYSE GD opened at $266.22 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a 1 year low of $257.26 and a 1 year high of $316.90. The company’s 50-day moving average is $269.70 and its 200 day moving average is $287.74. The stock has a market capitalization of $73.20 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.43 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its 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 firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the prior year, the company posted $3.04 EPS. The firm’s revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts expect that General Dynamics Co. will post 13.66 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio is currently 43.26%.

General Dynamics announced that its board has approved a share buyback plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the transaction, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.52% of the company’s stock.

General Dynamics 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.