Astoria Portfolio Advisors LLC. increased its position in shares of General Dynamics Co. (NYSE:GD – Free Report) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 797 shares of the aerospace company’s stock after acquiring an additional 128 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in General Dynamics were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the company. MFA Wealth Advisors LLC boosted its holdings in General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics during the 3rd quarter worth approximately $26,000. Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC acquired a new position in General Dynamics in the third quarter valued at approximately $34,000. Finally, Coston McIsaac & Partners grew its position in 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 acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.
General Dynamics Stock Down 0.7 %
GD stock opened at $266.86 on Monday. General Dynamics Co. has a fifty-two week low of $247.36 and a fifty-two week high of $316.90. The company’s 50 day moving average price is $272.86 and its 200 day moving average price is $288.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The firm has a market capitalization of $73.38 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.38 and a beta of 0.61.
General Dynamics Dividend Announcement
The firm also recently disclosed 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 is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.13%. General Dynamics’s dividend payout ratio is currently 43.26%.
General Dynamics declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
Analysts Set New Price Targets
GD has been the topic of several recent analyst reports. Citigroup upped their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Susquehanna decreased their target price on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group lowered General Dynamics from a “neutral” rating to a “sell” rating and cut their target price for the company from $283.00 to $245.00 in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has assigned 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 $304.53.
Read Our Latest Analysis on GD
Insider Activity
In related news, VP Christopher J. Brady sold 5,540 shares of the company’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 completion of the transaction, the vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.
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.
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