Pinnacle Financial Partners Inc Boosts Stock Position in General Dynamics Co. (NYSE:GD)

Pinnacle Financial Partners Inc increased its position in shares of General Dynamics Co. (NYSE:GD) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,313 shares of the aerospace company’s stock after purchasing an additional 393 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in General Dynamics were worth $16,419,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Financial Life Planners purchased a new stake in shares of General Dynamics during the fourth quarter worth approximately $25,000. Hara Capital LLC purchased a new stake in shares of General Dynamics during the third quarter worth approximately $26,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Dynamics during the fourth quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter worth approximately $28,000. Finally, Financial Perspectives Inc increased its position in shares of General Dynamics by 195.0% during the fourth quarter. Financial Perspectives Inc now owns 118 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 78 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BTIG Research cut General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. Barclays dropped their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Citigroup dropped their target price on General Dynamics from $360.00 to $335.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Royal Bank of Canada dropped their target price on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $298.59.

Insider Buying and Selling

In other news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.52% of the stock is currently owned by company insiders.

General Dynamics Price Performance

Shares of NYSE GD opened at $243.02 on Friday. The stock’s 50-day moving average is $259.68 and its two-hundred day moving average is $282.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90. The company has a market cap of $65.70 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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%. Analysts forecast that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were paid a dividend of $1.42 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.34%. General Dynamics’s dividend payout ratio is presently 41.64%.

General Dynamics declared that its Board of Directors has initiated a stock repurchase 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. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

General Dynamics 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.