Nicolet Advisory Services LLC Increases Stake in General Dynamics Co. (NYSE:GD)

Nicolet Advisory Services LLC increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,238 shares of the aerospace company’s stock after purchasing an additional 62 shares during the quarter. Nicolet Advisory Services LLC’s holdings in General Dynamics were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GD. United Bank increased its holdings in shares of General Dynamics by 4.0% in the third quarter. United Bank now owns 5,776 shares of the aerospace company’s stock worth $1,746,000 after purchasing an additional 224 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of General Dynamics during the third quarter worth $94,000. HighTower Advisors LLC grew its stake in General Dynamics by 9.5% in the 3rd quarter. HighTower Advisors LLC now owns 250,705 shares of the aerospace company’s stock worth $75,774,000 after acquiring an additional 21,805 shares in the last quarter. Investment Management Corp of Ontario raised its position in General Dynamics by 48.2% during the 3rd quarter. Investment Management Corp of Ontario now owns 7,690 shares of the aerospace company’s stock valued at $2,324,000 after purchasing an additional 2,500 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its stake in General Dynamics by 6.1% in the third quarter. IHT Wealth Management LLC now owns 8,797 shares of the aerospace company’s stock worth $2,659,000 after acquiring an additional 504 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the business’s 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. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Up 0.7 %

GD opened at $276.14 on Thursday. The stock’s 50 day moving average price is $259.05 and its 200 day moving average price is $276.19. The stock has a market cap of $74.65 billion, a P/E ratio of 20.24, a P/E/G ratio of 1.69 and a beta of 0.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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%. As a group, research analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

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

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.50 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.17%. General Dynamics’s dividend payout ratio is currently 43.99%.

Analyst Upgrades and Downgrades

GD has been the subject of several analyst reports. BTIG Research lowered shares of General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and dropped their target price for the company from $352.00 to $290.00 in a research report on Monday, January 6th. Royal Bank of Canada decreased their price objective on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. The Goldman Sachs Group dropped their price target on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Dynamics currently has an average 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.