Midland Wealth Advisors LLC Sells 433 Shares of General Dynamics Co. (NYSE:GD)

Midland Wealth Advisors LLC trimmed its position in shares of General Dynamics Co. (NYSE:GD) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,500 shares of the aerospace company’s stock after selling 433 shares during the quarter. Midland Wealth Advisors LLC’s holdings in General Dynamics were worth $659,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GD. Jeppson Wealth Management LLC raised its holdings in General Dynamics by 3.8% in 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 in the last quarter. Community Bank N.A. raised its stake in General Dynamics by 0.6% in the third quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company’s stock valued at $1,650,000 after purchasing an additional 35 shares in the last quarter. Freedom Investment Management Inc. lifted its position in General Dynamics by 0.9% during the third quarter. Freedom Investment Management Inc. now owns 4,344 shares of the aerospace company’s stock worth $1,313,000 after purchasing an additional 37 shares during the period. Purus Wealth Management LLC grew its stake in General Dynamics by 1.5% during the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company’s stock worth $701,000 after buying an additional 39 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in General Dynamics by 0.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,450 shares of the aerospace company’s stock valued at $2,554,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction that occurred 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 represents a 13.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 2.7 %

Shares of GD stock opened at $271.82 on Monday. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock has a market cap of $73.49 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.69 and a beta of 0.59. The stock has a 50-day moving average of $257.80 and a 200-day moving average of $279.78.

General Dynamics (NYSE:GD) last released its quarterly earnings results 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 return on equity of 17.10% and a net margin of 7.93%. On average, equities research analysts forecast that General Dynamics Co. will post 14.83 earnings per share for the current year.

General Dynamics announced that its board has approved a share repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a yield of 2.21%. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio is 43.99%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Susquehanna decreased their price objective on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research note on Thursday, January 30th. Royal Bank of Canada decreased their price target on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. Jefferies Financial Group restated a “hold” rating and set a $300.00 price objective (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Finally, BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $297.71.

General Dynamics Company 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.