Hoey Investments Inc. Acquires Shares of 105 General Dynamics Co. (NYSE:GD)

Hoey Investments Inc. bought a new position in shares of General Dynamics Co. (NYSE:GD) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 105 shares of the aerospace company’s stock, valued at approximately $28,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Life Planners acquired a new stake in General Dynamics during the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new position in shares of General Dynamics during the fourth quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Dynamics during the 4th quarter worth approximately $26,000. Heck Capital Advisors LLC bought a new stake in General Dynamics in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of General Dynamics in the fourth quarter valued at about $28,000. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Baird R W cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price target on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. Royal Bank of Canada cut their target price on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. Finally, TD Cowen decreased their price target on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics presently has a consensus rating of “Hold” and a consensus price target of $297.71.

General Dynamics Stock Performance

Shares of GD stock opened at $272.71 on Tuesday. The firm has a market capitalization of $73.73 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.69 and a beta of 0.59. 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 business’s 50-day moving average price is $258.84 and its 200-day moving average price is $276.41. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last posted its earnings results 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 17.10% and a net margin of 7.93%. Equities research analysts forecast that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 annualized dividend and a yield of 2.20%. General Dynamics’s payout ratio is presently 43.99%.

General Dynamics announced that its board has approved 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. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the transaction, the director now owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the sale, the senior vice president now owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

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.