Patriot Financial Group Insurance Agency LLC Buys 375 Shares of General Dynamics Co. (NYSE:GD)

Patriot Financial Group Insurance Agency LLC grew its position in shares of General Dynamics Co. (NYSE:GD) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,805 shares of the aerospace company’s stock after purchasing an additional 375 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in General Dynamics were worth $1,003,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MFA Wealth Advisors LLC lifted its holdings in General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares during the period. Hara Capital LLC bought a new position in shares of General Dynamics in the 3rd quarter worth about $26,000. Lowe Wealth Advisors LLC acquired a new position in shares of General Dynamics in the 3rd quarter valued at about $30,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Dynamics during the 4th quarter valued at about $28,000. Finally, True Wealth Design LLC acquired a new stake in General Dynamics during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is owned by insiders.

General Dynamics Stock Performance

GD stock opened at $262.33 on Wednesday. The business has a 50 day moving average of $268.94 and a 200-day moving average of $287.64. The firm has a market cap of $72.13 billion, a PE ratio of 19.98, a P/E/G ratio of 1.43 and a beta of 0.61. General Dynamics Co. has a 12-month low of $257.26 and a 12-month high of $316.90. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics announced that its Board of Directors has initiated a stock buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

Wall Street Analyst Weigh In

GD has been the topic of a number of research analyst reports. Jefferies Financial Group restated a “hold” rating and set a $300.00 price target (down from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. UBS Group cut their target price on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their price target on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, Wolfe Research lowered General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $303.28.

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.