FourThought Financial Partners LLC Takes $546,000 Position in General Dynamics Co. (NYSE:GD)

FourThought Financial Partners LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 2,071 shares of the aerospace company’s stock, valued at approximately $546,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jeppson Wealth Management LLC increased its holdings in shares of General Dynamics by 3.8% during the third quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock valued at $289,000 after acquiring an additional 35 shares in the last quarter. Community Bank N.A. boosted its position in shares of General Dynamics by 0.6% during the third quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company’s stock valued at $1,650,000 after buying an additional 35 shares during the last quarter. United Asset Strategies Inc. boosted its position in shares of General Dynamics by 1.2% during the third quarter. United Asset Strategies Inc. now owns 3,013 shares of the aerospace company’s stock valued at $911,000 after buying an additional 37 shares during the last quarter. Forum Financial Management LP boosted its position in shares of General Dynamics by 1.8% during the third quarter. Forum Financial Management LP now owns 2,042 shares of the aerospace company’s stock valued at $617,000 after buying an additional 37 shares during the last quarter. Finally, Freedom Investment Management Inc. boosted its position in shares of General Dynamics by 0.9% during the third quarter. Freedom Investment Management Inc. now owns 4,344 shares of the aerospace company’s stock valued at $1,313,000 after buying an additional 37 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

GD has been the topic of several analyst reports. The Goldman Sachs Group cut their target price on General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research report on Tuesday, January 28th. Vertical Research cut General Dynamics from a “buy” rating to a “hold” rating and cut their target price for the company from $352.00 to $290.00 in a research report on Monday, January 6th. TD Cowen cut their target price on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Baird R W cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Barclays cut their price objective on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $298.59.

General Dynamics Stock Up 1.4 %

Shares of NYSE GD opened at $249.83 on Wednesday. General Dynamics Co. has a one year low of $239.87 and a one year high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The business’s fifty day moving average price is $258.97 and its 200-day moving average price is $281.88. The stock has a market capitalization of $67.54 billion, a PE ratio of 18.32, a P/E/G ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its quarterly earnings results 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%. On average, equities research analysts anticipate that General Dynamics Co. will post 14.83 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 paid a dividend of $1.42 per share. The ex-dividend date was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.27%. General Dynamics’s payout ratio is 41.64%.

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

Insider Activity 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 stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. The trade was 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. 1.60% of the stock is currently owned by corporate insiders.

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.