Family Legacy Inc. Acquires 87 Shares of General Dynamics Co. (NYSE:GD)

Family Legacy Inc. lifted its stake in General Dynamics Co. (NYSE:GD) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,085 shares of the aerospace company’s stock after purchasing an additional 87 shares during the period. Family Legacy Inc.’s holdings in General Dynamics were worth $2,375,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Financial Life Planners bought a new position in shares of General Dynamics during the 4th quarter valued at about $25,000. Whipplewood Advisors LLC bought a new position in General Dynamics in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in General Dynamics in the fourth quarter valued at approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Dynamics in the fourth quarter valued at approximately $28,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of General Dynamics during the fourth quarter worth $28,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GD has been the topic of several recent research reports. Barclays dropped their price target on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Susquehanna dropped their target price on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research report on Thursday, January 30th. Citigroup cut their target price on General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Robert W. Baird reaffirmed a “neutral” rating and set a $283.00 price target (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Finally, UBS Group cut their price objective on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, General Dynamics currently has a consensus rating of “Hold” and an average price target of $297.71.

General Dynamics Stock Performance

Shares of GD stock opened at $268.99 on Monday. The company has a market capitalization of $72.72 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.69 and a beta of 0.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a 52 week low of $239.87 and a 52 week high of $316.90. The company has a 50-day simple moving average of $258.73 and a 200 day simple moving average of $276.60.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. On average, sell-side analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Friday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s payout ratio is presently 43.99%.

General Dynamics announced that its board has initiated a stock buyback program 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 programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 11,175 shares of the company’s stock, valued at $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at $12,297,195.12. This represents a 37.88 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

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.