Mitchell & Pahl Private Wealth LLC Buys 471 Shares of General Dynamics Co. (NYSE:GD)

Mitchell & Pahl Private Wealth LLC grew its stake in General Dynamics Co. (NYSE:GD) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,709 shares of the aerospace company’s stock after purchasing an additional 471 shares during the quarter. General Dynamics comprises about 1.2% of Mitchell & Pahl Private Wealth LLC’s holdings, making the stock its 22nd biggest holding. Mitchell & Pahl Private Wealth LLC’s holdings in General Dynamics were worth $2,558,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Coston McIsaac & Partners boosted its position in shares of General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares in the last quarter. Global X Japan Co. Ltd. boosted its holdings in shares of General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after buying an additional 33 shares in the last quarter. Grove Bank & Trust grew its position in shares of General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after buying an additional 34 shares during the period. Trueblood Wealth Management LLC increased its stake in shares of General Dynamics by 1.6% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after acquiring an additional 34 shares in the last quarter. Finally, Jeppson Wealth Management LLC lifted its position in General Dynamics by 3.8% during the 3rd quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock valued at $289,000 after acquiring an additional 35 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GD shares. Robert W. Baird restated a “neutral” rating and issued a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. The Goldman Sachs Group lowered General Dynamics from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $283.00 to $245.00 in a research report on Thursday, December 12th. Barclays dropped their target price on General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Jefferies Financial Group restated a “hold” rating and set a $300.00 price target (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Finally, Royal Bank of Canada cut shares of General Dynamics from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $330.00 to $290.00 in a research note on Thursday, December 19th. One research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $304.53.

Insider Buying and Selling at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

General Dynamics Price Performance

NYSE GD opened at $266.86 on Tuesday. The stock has a market capitalization of $73.38 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.41 and a beta of 0.61. General Dynamics Co. has a 1-year low of $247.36 and a 1-year high of $316.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The business’s fifty day moving average price is $272.86 and its 200-day moving average price is $288.21.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.04 EPS. On average, equities analysts predict that General Dynamics Co. will post 13.81 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors 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 yield of 2.13%. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

General Dynamics announced that its Board of Directors has initiated a share buyback program on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.