Berkshire Money Management Inc. Makes New Investment in General Dynamics Co. (NYSE:GD)

Berkshire Money Management Inc. purchased a new stake in shares of General Dynamics Co. (NYSE:GD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,102 shares of the aerospace company’s stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GD. Hager Investment Management Services LLC acquired a new position in General Dynamics during the 4th quarter valued at about $190,000. Stratos Investment Management LLC raised its stake in shares of General Dynamics by 93.2% during the fourth quarter. Stratos Investment Management LLC now owns 17,732 shares of the aerospace company’s stock worth $4,672,000 after buying an additional 8,554 shares during the last quarter. Stratos Wealth Advisors LLC boosted its stake in General Dynamics by 6.5% in the fourth quarter. Stratos Wealth Advisors LLC now owns 1,237 shares of the aerospace company’s stock valued at $326,000 after acquiring an additional 76 shares during the last quarter. Guidance Capital Inc. grew its holdings in General Dynamics by 14.4% during the 4th quarter. Guidance Capital Inc. now owns 3,248 shares of the aerospace company’s stock worth $865,000 after acquiring an additional 408 shares during the period. Finally, 1858 Wealth Management LLC raised its position in shares of General Dynamics by 3.5% during the 4th quarter. 1858 Wealth Management LLC now owns 3,186 shares of the aerospace company’s stock valued at $839,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 0.4 %

Shares of General Dynamics stock opened at $257.64 on Wednesday. General Dynamics Co. has a 52-week low of $247.01 and a 52-week high of $316.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The business’s 50 day simple moving average is $266.56 and its 200 day simple moving average is $286.50. The firm has a market cap of $70.84 billion, a PE ratio of 18.89, a P/E/G ratio of 1.46 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced 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%. On average, analysts predict that General Dynamics Co. will post 14.88 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio is currently 41.64%.

General Dynamics declared that its board has approved a stock buyback plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Robert W. Baird restated a “neutral” rating and issued a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. 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. Susquehanna decreased their price objective on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a report on Thursday, January 30th. Finally, Wells Fargo & Company cut their target price on shares of General Dynamics from $279.00 to $276.00 and set an “equal weight” rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Dynamics has a consensus rating of “Hold” and an average target price of $300.06.

Insider Buying and Selling

In other news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

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.