HB Wealth Management LLC Buys 943 Shares of General Dynamics Co. (NYSE:GD)

HB Wealth Management LLC boosted its position in shares of General Dynamics Co. (NYSE:GD) by 3.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 32,643 shares of the aerospace company’s stock after acquiring an additional 943 shares during the period. HB Wealth Management LLC’s holdings in General Dynamics were worth $8,601,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GD. MFA Wealth Advisors LLC grew its holdings 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 worth $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC acquired a new position in General Dynamics during the 3rd quarter worth approximately $26,000. Lowe Wealth Advisors LLC bought a new position in shares of General Dynamics during the 3rd quarter worth approximately $30,000. True Wealth Design LLC acquired a new stake in shares of General Dynamics in the third quarter valued at approximately $34,000. Finally, Coston McIsaac & Partners lifted its position in shares of General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 33 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were 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 of the company’s stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their price target on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada lowered General Dynamics from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $330.00 to $290.00 in a report on Thursday, December 19th. Susquehanna decreased their price target on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Baird R W cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, TD Cowen raised shares of 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, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $304.53.

General Dynamics Stock Performance

GD opened at $266.86 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. The company has a market capitalization of $73.38 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.61. The business has a fifty day simple moving average of $272.86 and a 200 day simple moving average of $288.17. General Dynamics Co. has a 1 year low of $247.36 and a 1 year high of $316.90.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.04 earnings per share. 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 initiated a share repurchase plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

General Dynamics Announces Dividend

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

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.