Farther Finance Advisors LLC Raises Stock Position in General Dynamics Co. (NYSE:GD)

Farther Finance Advisors LLC boosted its position in shares of General Dynamics Co. (NYSE:GD) by 15.0% in the fourth quarter, HoldingsChannel reports. The fund owned 13,921 shares of the aerospace company’s stock after purchasing an additional 1,811 shares during the quarter. Farther Finance Advisors LLC’s holdings in General Dynamics were worth $3,668,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GD. Financial Life Planners purchased a new stake in shares of General Dynamics during the fourth quarter worth about $25,000. Whipplewood Advisors LLC acquired a new stake in General Dynamics in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Dynamics during the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in General Dynamics during the 4th quarter valued at approximately $28,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $260.21 on Thursday. The firm has a market cap of $70.35 billion, a PE ratio of 19.08, a P/E/G ratio of 1.69 and a beta of 0.59. The business has a 50-day moving average price of $257.92 and a 200 day moving average price of $279.30. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. Sell-side analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.31%. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics’s dividend payout ratio (DPR) is presently 43.99%.

General Dynamics declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GD. Deutsche Bank Aktiengesellschaft cut their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Robert W. Baird reissued a “neutral” rating and issued a $283.00 price objective (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. TD Cowen decreased their target price on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. The Goldman Sachs Group cut their price target on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a report on Tuesday, January 28th. Finally, UBS Group reduced their price target on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $297.71.

Insider Activity

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares in the company, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

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.