Avantax Planning Partners Inc. Buys 126 Shares of General Dynamics Co. (NYSE:GD)

Avantax Planning Partners Inc. grew its stake in General Dynamics Co. (NYSE:GD) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,987 shares of the aerospace company’s stock after acquiring an additional 126 shares during the period. Avantax Planning Partners Inc.’s holdings in General Dynamics were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cushing Capital Partners LLC bought a new stake in shares of General Dynamics during the fourth quarter worth approximately $654,000. Cornerstone Advisors LLC raised its stake in shares of General Dynamics by 3.4% during the fourth quarter. Cornerstone Advisors LLC now owns 21,300 shares of the aerospace company’s stock worth $5,612,000 after buying an additional 700 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of General Dynamics by 6.9% during the fourth quarter. Citizens Financial Group Inc. RI now owns 25,394 shares of the aerospace company’s stock worth $6,691,000 after buying an additional 1,636 shares during the last quarter. Dearborn Partners LLC raised its stake in shares of General Dynamics by 0.5% during the fourth quarter. Dearborn Partners LLC now owns 57,359 shares of the aerospace company’s stock worth $15,114,000 after buying an additional 294 shares during the last quarter. Finally, Riverbend Wealth Management LLC acquired a new position in General Dynamics during the fourth quarter valued at approximately $485,000. 86.14% of the stock is owned by institutional investors.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the transaction, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.52% of the stock is owned by company insiders.

General Dynamics Price Performance

NYSE:GD opened at $264.25 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The stock’s 50-day simple moving average is $257.99 and its 200 day simple moving average is $279.44. The company has a market cap of $71.44 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.69 and a beta of 0.59. General Dynamics Co. has a 52-week low of $239.87 and a 52-week high of $316.90.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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%. As a group, sell-side analysts forecast that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics declared that its board has approved a share 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 typically a sign that the company’s board believes its stock is undervalued.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be given a $1.50 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.27%. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s payout ratio is currently 43.99%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GD shares. UBS Group decreased their price objective on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company boosted their price objective on shares of General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. Robert W. Baird restated a “neutral” rating and set a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Barclays decreased their price objective on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Susquehanna decreased their price objective on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $297.71.

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.