Sierra Ocean LLC Invests $231,000 in General Dynamics Co. (NYSE:GD)

Sierra Ocean LLC acquired a new stake in General Dynamics Co. (NYSE:GD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 877 shares of the aerospace company’s stock, valued at approximately $231,000.

Other institutional investors also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC lifted its holdings in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares during the period. Financial Life Planners acquired a new position in General Dynamics during the fourth quarter worth $25,000. Hara Capital LLC purchased a new position in General Dynamics in the third quarter worth $26,000. Sugar Maple Asset Management LLC acquired a new stake in General Dynamics in the fourth quarter valued at $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 1.7 %

Shares of NYSE GD opened at $241.98 on Monday. The firm has a market cap of $66.54 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. General Dynamics Co. has a 1 year low of $239.87 and a 1 year high of $316.90. The firm’s 50 day moving average price is $261.96 and its 200 day moving average price is $284.19.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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 net margin of 7.93% and a return on equity of 17.10%. As a group, sell-side analysts anticipate that General Dynamics Co. will post 14.84 earnings per share for the current year.

General Dynamics declared that its board has authorized a stock buyback plan on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were given a $1.42 dividend. The ex-dividend date was Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.35%. General Dynamics’s dividend payout ratio is presently 41.64%.

Insider Activity at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the business’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 sale, the director now owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of the firm’s 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 approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on GD shares. Citigroup reduced their price objective on shares of General Dynamics from $360.00 to $335.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Vertical Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and reduced their price target for the company from $352.00 to $290.00 in a research report on Monday, January 6th. Sanford C. Bernstein lowered their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. dropped their price objective on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, Susquehanna decreased their target price on General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $298.59.

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.