Thurston Springer Miller Herd & Titak Inc. Has $2.56 Million Holdings in General Dynamics Co. (NYSE:GD)

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 61.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,719 shares of the aerospace company’s stock after buying an additional 3,701 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in General Dynamics were worth $2,561,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. MFA Wealth Advisors LLC grew its position in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC acquired a new stake in General Dynamics during the third quarter worth approximately $26,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics during the third quarter worth approximately $30,000. True Wealth Design LLC bought a new stake in General Dynamics during the third quarter worth $34,000. Finally, Coston McIsaac & Partners lifted its stake in General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred 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 transaction, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is owned by insiders.

General Dynamics Stock Performance

Shares of GD opened at $264.92 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The stock has a 50-day moving average of $275.30 and a 200-day moving average of $288.61. The company has a market cap of $72.84 billion, a PE ratio of 20.18, a P/E/G ratio of 1.62 and a beta of 0.61. General Dynamics Co. has a one year low of $247.36 and a one year high of $316.90.

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

General Dynamics declared that its board has approved a stock buyback program on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

General Dynamics Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GD. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein lowered their target price 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. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 target price (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Finally, Citigroup raised their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $304.53.

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.