3,639 Shares in General Dynamics Co. (NYSE:GD) Acquired by Pines Wealth Management LLC

Pines Wealth Management LLC bought a new stake in General Dynamics Co. (NYSE:GD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,639 shares of the aerospace company’s stock, valued at approximately $944,000.

Several other large investors also recently added to or reduced their stakes in GD. MFA Wealth Advisors LLC increased its holdings in shares of General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 58 shares during the last quarter. Hara Capital LLC bought a new stake in General Dynamics during the third quarter worth approximately $26,000. Lowe Wealth Advisors LLC acquired a new position in General Dynamics during the third quarter valued at approximately $30,000. True Wealth Design LLC bought a new position in shares of General Dynamics in the third quarter valued at approximately $34,000. Finally, Coston McIsaac & Partners lifted its stake in shares of General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Vertical Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $352.00 to $290.00 in a report on Monday, January 6th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays decreased their target price on General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Sanford C. Bernstein reduced their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $304.53.

General Dynamics Stock Performance

NYSE:GD opened at $264.92 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $275.30 and a 200 day moving average price of $288.61. The firm has a market capitalization of $72.84 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. General Dynamics Co. has a 12-month low of $247.36 and a 12-month high of $316.90.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.04 earnings per share. Research analysts anticipate that General Dynamics Co. will post 13.84 earnings per share for the current fiscal year.

General Dynamics announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

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.