General Dynamics Co. (NYSE:GD) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 6.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,163 shares of the aerospace company’s stock after buying an additional 388 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in General Dynamics were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GD. MFA Wealth Advisors LLC lifted its stake in General Dynamics by 241.7% during the 3rd 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 during the period. Hara Capital LLC purchased a new position in shares of General Dynamics during the 3rd quarter valued at approximately $26,000. Sugar Maple Asset Management LLC purchased a new position in shares of General Dynamics during the 4th quarter valued at approximately $28,000. Lowe Wealth Advisors LLC purchased a new position in shares of General Dynamics during the 3rd quarter valued at approximately $30,000. Finally, True Wealth Design LLC purchased a new position in shares of General Dynamics during the 3rd quarter valued at approximately $34,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’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 owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Trading Down 0.9 %

Shares of GD stock opened at $266.22 on Friday. The company’s 50-day moving average price is $269.70 and its 200-day moving average price is $287.74. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The stock has a market cap of $73.20 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.43 and a beta of 0.61. General Dynamics Co. has a twelve month low of $257.26 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.04 EPS. As a group, equities analysts predict that General Dynamics Co. will post 13.66 earnings per share for the current year.

General Dynamics declared that its board has approved a share buyback plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire 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 company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.13%. General Dynamics’s payout ratio is 43.26%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Robert W. Baird reaffirmed a “neutral” rating and set a $283.00 target price (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Barclays cut their price target on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Royal Bank of Canada lowered shares of General Dynamics from an “outperform” rating to a “sector perform” rating and cut 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 given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and a consensus target price of $304.88.

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.