SteelPeak Wealth LLC Purchases 203 Shares of General Dynamics Co. (NYSE:GD)

SteelPeak Wealth LLC lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 18.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,319 shares of the aerospace company’s stock after buying an additional 203 shares during the quarter. SteelPeak Wealth LLC’s holdings in General Dynamics were worth $348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GD. Mayflower Financial Advisors LLC increased its holdings in General Dynamics by 30.9% in the fourth quarter. Mayflower Financial Advisors LLC now owns 1,109 shares of the aerospace company’s stock valued at $292,000 after purchasing an additional 262 shares during the last quarter. Orca Wealth Management LLC acquired a new position in shares of General Dynamics during the 4th quarter worth about $894,000. Patriot Financial Group Insurance Agency LLC increased its stake in shares of General Dynamics by 10.9% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 3,805 shares of the aerospace company’s stock valued at $1,003,000 after acquiring an additional 375 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of General Dynamics by 90.4% in the 4th quarter. Perigon Wealth Management LLC now owns 6,483 shares of the aerospace company’s stock valued at $1,743,000 after acquiring an additional 3,078 shares during the period. Finally, Patrick M Sweeney & Associates Inc. boosted its stake in General Dynamics by 6.2% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 1,403 shares of the aerospace company’s stock worth $370,000 after acquiring an additional 82 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GD has been the subject of several recent analyst reports. Sanford C. Bernstein lowered their target price 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. Royal Bank of Canada reduced their target price on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a report on Thursday. Jefferies Financial Group reiterated 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. TD Cowen dropped their price target on shares of General Dynamics from $315.00 to $295.00 in a research report on Tuesday. Finally, Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $301.24.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’s 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 transaction, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 2.2 %

GD opened at $256.93 on Friday. The company’s 50 day moving average is $268.00 and its 200-day moving average is $287.23. The company has a market cap of $70.65 billion, a P/E ratio of 19.57, a PEG ratio of 1.43 and a beta of 0.61. General Dynamics Co. has a 1-year low of $247.01 and a 1-year high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

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

General Dynamics Dividend Announcement

The company 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. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.21%. General Dynamics’s dividend payout ratio is presently 43.26%.

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

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.