C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New Investment in General Dynamics Co. (NYSE:GD)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of General Dynamics Co. (NYSE:GD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,242 shares of the aerospace company’s stock, valued at approximately $6,915,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GD. MFA Wealth Advisors LLC increased its stake in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 58 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of General Dynamics during the 3rd quarter valued at $26,000. Financial Life Planners acquired a new position in shares of General Dynamics in the 4th quarter valued at $25,000. Heck Capital Advisors LLC acquired a new stake in General Dynamics during the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of General Dynamics during the 4th quarter valued at about $28,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

NYSE:GD opened at $241.98 on Tuesday. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $261.96 and a 200 day simple moving average of $284.09. The stock has a market capitalization of $66.54 billion, a PE ratio of 17.74, a P/E/G ratio of 1.61 and a beta of 0.61.

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

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

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is 41.64%.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Barclays dropped their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Vertical Research cut shares of General Dynamics from a “buy” rating to a “hold” rating and dropped their target price for the company from $352.00 to $290.00 in a report on Monday, January 6th. Finally, Wolfe Research cut shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics presently has an average rating of “Hold” and a consensus target price of $298.59.

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.