Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stock Holdings in General Dynamics Co. (NYSE:GD)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in General Dynamics Co. (NYSE:GD) by 94.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,856 shares of the aerospace company’s stock after buying an additional 2,840 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in General Dynamics were worth $1,543,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GD. MFA Wealth Advisors LLC raised its holdings in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares during the period. Hara Capital LLC purchased a new position in General Dynamics during the 3rd quarter worth $26,000. Sugar Maple Asset Management LLC purchased a new position in General Dynamics during the 4th quarter worth $28,000. Lowe Wealth Advisors LLC purchased a new position in General Dynamics during the 3rd quarter worth $30,000. Finally, True Wealth Design LLC purchased a new position in General Dynamics during the 3rd quarter worth $34,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of GD stock opened at $269.64 on Tuesday. The firm has a market capitalization of $74.14 billion, a price-to-earnings ratio of 20.54, 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 current ratio of 1.32 and a quick ratio of 0.80. The business has a fifty day moving average of $269.27 and a 200 day moving average of $287.74. General Dynamics Co. has a 1 year low of $257.26 and a 1 year high of $316.90.

General Dynamics declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.11%. General Dynamics’s payout ratio is currently 43.26%.

Insider Buying and Selling at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction dated 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 owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GD shares. Royal Bank of Canada downgraded General Dynamics from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $330.00 to $290.00 in a report on Thursday, December 19th. Susquehanna dropped their target price on General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Barclays dropped their target price on General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Robert W. Baird reaffirmed a “neutral” rating and set a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Finally, TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $304.88.

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.