Hunter Perkins Capital Management LLC Raises Position in General Dynamics Co. (NYSE:GD)

Hunter Perkins Capital Management LLC raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 106.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,012 shares of the aerospace company’s stock after acquiring an additional 13,414 shares during the period. General Dynamics comprises about 1.4% of Hunter Perkins Capital Management LLC’s portfolio, making the stock its 25th largest holding. Hunter Perkins Capital Management LLC’s holdings in General Dynamics were worth $6,854,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GD. Creative Planning increased its stake in General Dynamics by 4.6% in the 2nd quarter. Creative Planning now owns 45,042 shares of the aerospace company’s stock worth $13,068,000 after purchasing an additional 1,988 shares during the period. NewEdge Advisors LLC increased its stake in shares of General Dynamics by 19.5% in the second quarter. NewEdge Advisors LLC now owns 38,038 shares of the aerospace company’s stock worth $11,036,000 after buying an additional 6,205 shares during the period. Quarry LP raised its holdings in General Dynamics by 85.0% during the 2nd quarter. Quarry LP now owns 283 shares of the aerospace company’s stock valued at $82,000 after buying an additional 130 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in General Dynamics during the 2nd quarter valued at $290,000. Finally, EP Wealth Advisors LLC grew its holdings in General Dynamics by 36.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 17,740 shares of the aerospace company’s stock worth $5,147,000 after acquiring an additional 4,711 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

General Dynamics stock opened at $266.22 on Monday. The stock’s 50 day moving average is $269.27 and its 200 day moving average is $287.74. The company has a market capitalization of $73.20 billion, a P/E ratio of 20.28, a PEG ratio of 1.43 and a beta of 0.61. General Dynamics Co. has a twelve month low of $257.26 and a twelve month high of $316.90. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.13%. General Dynamics’s payout ratio is presently 43.26%.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Vertical Research lowered 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. Wells Fargo & Company dropped their price objective on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Sanford C. Bernstein reduced their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Susquehanna dropped their price target on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Wolfe Research downgraded shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics presently has an average rating of “Hold” and a consensus price target of $304.88.

Insider Transactions at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction 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 approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.52% of the stock is owned by insiders.

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.