Allworth Financial LP Purchases 1,112 Shares of General Dynamics Co. (NYSE:GD)

Allworth Financial LP boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,755 shares of the aerospace company’s stock after acquiring an additional 1,112 shares during the period. Allworth Financial LP’s holdings in General Dynamics were worth $7,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in General Dynamics by 15.3% during the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after purchasing an additional 1,283 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after buying an additional 3,448 shares during the last quarter. Olstein Capital Management L.P. boosted its holdings in shares of General Dynamics by 36.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after buying an additional 4,000 shares in the last quarter. Kentucky Trust Co purchased a new position in shares of General Dynamics in the 4th quarter worth approximately $607,000. Finally, Oppenheimer & Co. Inc. lifted its position in General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after acquiring an additional 3,363 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 1.7 %

Shares of NYSE:GD opened at $241.98 on Monday. The company has a market capitalization of $66.54 billion, a PE ratio of 17.74, a PEG ratio of 1.61 and a beta of 0.61. General Dynamics Co. has a 12-month low of $239.87 and a 12-month high of $316.90. The business has a 50 day moving average of $261.96 and a two-hundred day moving average of $284.19. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. As a group, analysts forecast that General Dynamics Co. will post 14.84 EPS for the current year.

General Dynamics Dividend Announcement

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

General Dynamics announced that its Board of Directors has initiated a share buyback program on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. BTIG Research downgraded General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday. Wolfe Research lowered General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Susquehanna lowered their price target on General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a report on Thursday, January 30th. UBS Group cut their price objective on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $283.00 target price (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $298.59.

Insiders Place Their Bets

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction dated Friday, January 31st. The shares were 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 in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by company insiders.

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.