Journey Strategic Wealth LLC Reduces Holdings in General Dynamics Co. (NYSE:GD)

Journey Strategic Wealth LLC lowered its position in General Dynamics Co. (NYSE:GD) by 6.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,313 shares of the aerospace company’s stock after selling 88 shares during the quarter. Journey Strategic Wealth LLC’s holdings in General Dynamics were worth $346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GD. MFA Wealth Advisors LLC increased its stake 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 worth $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC bought a new position in General Dynamics in the 3rd quarter worth approximately $26,000. Heck Capital Advisors LLC purchased a new position in General Dynamics in the 4th quarter valued at approximately $28,000. Sugar Maple Asset Management LLC bought a new stake in General Dynamics during the 4th quarter valued at $28,000. Finally, True Wealth Design LLC purchased a new stake in shares of General Dynamics during the third quarter worth $34,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

NYSE:GD opened at $257.17 on Monday. The company has a market capitalization of $70.71 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 1.34 and a beta of 0.61. The business has a 50 day moving average of $267.05 and a 200 day moving average of $286.79. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a 1-year low of $247.01 and a 1-year high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.08% and a net margin of 7.93%. On average, sell-side analysts predict that General Dynamics Co. will post 15.92 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.21%. General Dynamics’s dividend payout ratio (DPR) is currently 41.64%.

General Dynamics announced that its board has authorized a share buyback program on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GD. UBS Group decreased their price objective on General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research report on Thursday. Sanford C. Bernstein cut their price objective on shares of 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. TD Cowen decreased their target price on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Finally, Vertical Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and cut their price target for the company from $352.00 to $290.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Dynamics currently has an average rating of “Hold” and a consensus price target of $301.24.

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.52% of the company’s stock.

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.