Heirloom Wealth Management Acquires 1,384 Shares of General Dynamics Co. (NYSE:GD)

Heirloom Wealth Management boosted its holdings in General Dynamics Co. (NYSE:GD) by 7.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,290 shares of the aerospace company’s stock after acquiring an additional 1,384 shares during the quarter. General Dynamics accounts for about 1.5% of Heirloom Wealth Management’s investment portfolio, making the stock its 21st largest position. Heirloom Wealth Management’s holdings in General Dynamics were worth $5,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GD. International Assets Investment Management LLC increased its stake in General Dynamics by 40,389.3% in the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after acquiring an additional 1,376,065 shares during the last quarter. State Street Corp increased its position in shares of General Dynamics by 9.4% during the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after purchasing an additional 943,247 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of General Dynamics by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after buying an additional 638,342 shares in the last quarter. Two Sigma Advisers LP lifted its position in General Dynamics by 117.0% in the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock worth $259,469,000 after buying an additional 463,000 shares during the last quarter. Finally, Barclays PLC boosted its stake in General Dynamics by 43.1% in the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock worth $284,818,000 after buying an additional 283,972 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.9 %

GD stock opened at $266.22 on Monday. The company has a market capitalization of $73.20 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. 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 business’s 50 day moving average price is $269.27 and its two-hundred day moving average price is $287.74. General Dynamics Co. has a fifty-two week low of $257.26 and a fifty-two week high of $316.90.

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

General Dynamics Announces Dividend

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

Insider Activity

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction 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 trade represents a 21.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

GD has been the subject of a number of recent research reports. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Sanford C. Bernstein lowered their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Susquehanna reduced their price objective on General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and dropped their target price for the company from $352.00 to $290.00 in a report on Monday, January 6th. Finally, The Goldman Sachs Group lowered General Dynamics from a “neutral” rating to a “sell” rating and reduced their price target for the stock 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 given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.