Strategic Financial Concepts LLC Takes Position in General Dynamics Co. (NYSE:GD)

Strategic Financial Concepts LLC bought a new position in shares of General Dynamics Co. (NYSE:GD) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 45,316 shares of the aerospace company’s stock, valued at approximately $11,940,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allworth Financial LP increased its position in General Dynamics by 4.3% during the 4th quarter. Allworth Financial LP now owns 26,755 shares of the aerospace company’s stock worth $7,193,000 after buying an additional 1,112 shares during the period. Principal Securities Inc. grew its stake in shares of General Dynamics by 37.6% in the fourth quarter. Principal Securities Inc. now owns 8,166 shares of the aerospace company’s stock valued at $2,152,000 after acquiring an additional 2,233 shares in the last quarter. Beacon Capital Management LLC increased its position in General Dynamics by 31.9% during the fourth quarter. Beacon Capital Management LLC now owns 298 shares of the aerospace company’s stock worth $79,000 after acquiring an additional 72 shares during the period. Ellis Investment Partners LLC raised its stake in General Dynamics by 2.6% in the 4th quarter. Ellis Investment Partners LLC now owns 5,327 shares of the aerospace company’s stock worth $1,404,000 after purchasing an additional 134 shares in the last quarter. Finally, Congress Asset Management Co. bought a new stake in General Dynamics in the 4th quarter valued at about $1,218,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GD. Wells Fargo & Company dropped their price target on shares of General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. Sanford C. Bernstein dropped their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Barclays dropped their price target on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, TD Cowen reduced their price objective on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $298.59.

General Dynamics Price Performance

General Dynamics stock opened at $241.98 on Friday. The stock has a 50-day moving average price of $261.96 and a two-hundred day moving average price of $284.25. General Dynamics Co. has a 12 month low of $239.87 and a 12 month high of $316.90. The company has a market capitalization of $65.42 billion, a PE ratio of 17.74, a P/E/G ratio of 1.61 and a beta of 0.61. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

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

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were issued a $1.42 dividend. The ex-dividend date was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.35%. General Dynamics’s payout ratio is 41.64%.

General Dynamics declared that its board has authorized a stock buyback 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. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

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

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.