General Dynamics Co. (NYSE:GD) Shares Purchased by Balboa Wealth Partners

Balboa Wealth Partners lifted its holdings in General Dynamics Co. (NYSE:GD) by 13.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 793 shares of the aerospace company’s stock after purchasing an additional 91 shares during the period. Balboa Wealth Partners’ holdings in General Dynamics were worth $209,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its holdings in shares of General Dynamics by 15.3% in the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after purchasing an additional 1,283 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in General Dynamics by 67.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after acquiring an additional 3,448 shares in the last quarter. Kentucky Trust Co acquired a new position in General Dynamics during the 4th quarter worth approximately $607,000. Hickory Point Bank & Trust acquired a new position in General Dynamics during the 4th quarter worth approximately $692,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in General Dynamics by 69.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock worth $69,032,000 after acquiring an additional 107,095 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 0.4 %

GD stock opened at $262.19 on Friday. The company has a fifty day moving average price of $257.89 and a 200 day moving average price of $278.98. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. The company has a market cap of $70.88 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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%. Sell-side analysts expect that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics declared that its board has authorized a share buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a $1.50 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, April 11th. General Dynamics’s payout ratio is currently 43.99%.

Insider Buying and Selling at General Dynamics

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of General Dynamics from $244.00 to $261.00 and gave the stock an “equal weight” rating in a report on Friday, March 7th. Robert W. Baird reiterated a “neutral” rating and set a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. The Goldman Sachs Group lowered their price target on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a report on Tuesday, January 28th. Barclays lowered their price target on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Jefferies Financial Group restated a “hold” rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, General Dynamics has an average rating of “Hold” and an average price target of $297.71.

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.