Perigon Wealth Management LLC Acquires 3,078 Shares of General Dynamics Co. (NYSE:GD)

Perigon Wealth Management LLC increased its stake in General Dynamics Co. (NYSE:GDFree Report) by 90.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,483 shares of the aerospace company’s stock after buying an additional 3,078 shares during the quarter. Perigon Wealth Management LLC’s holdings in General Dynamics were worth $1,743,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in shares of General Dynamics by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock valued at $4,292,851,000 after buying an additional 109,618 shares during the last quarter. State Street Corp boosted its holdings in shares of General Dynamics by 9.4% in 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 buying an additional 943,247 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of General Dynamics by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock valued at $2,366,124,000 after buying an additional 189,904 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of General Dynamics by 13.0% in 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 during the last quarter. Finally, FMR LLC boosted its holdings in shares of General Dynamics by 0.5% in the 3rd quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock valued at $1,493,030,000 after buying an additional 24,464 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

GD has been the subject of several recent analyst reports. Wells Fargo & Company cut their price objective on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. TD Cowen cut their price target on General Dynamics from $315.00 to $295.00 in a report on Tuesday. Susquehanna cut their price target on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $303.71.

Get Our Latest Stock Analysis on GD

General Dynamics Stock Down 4.2 %

Shares of NYSE GD opened at $251.52 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics Co. has a 52 week low of $247.01 and a 52 week high of $316.90. The stock has a market capitalization of $69.16 billion, a P/E ratio of 19.16, a PEG ratio of 1.43 and a beta of 0.61. The stock’s fifty day moving average is $268.57 and its 200 day moving average is $287.48.

General Dynamics (NYSE:GDGet Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. Sell-side analysts forecast that General Dynamics Co. will post 13.66 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio is presently 43.26%.

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

Insider Buying and Selling at General Dynamics

In other General Dynamics 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.52% of the company’s stock.

About General Dynamics

(Free Report)

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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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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