Mainstream Capital Management LLC Takes Position in General Dynamics Co. (NYSE:GD)

Mainstream Capital Management LLC acquired a new position in shares of General Dynamics Co. (NYSE:GD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 119 shares of the aerospace company’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GD. SWS Partners grew its position in General Dynamics by 3.1% during the fourth quarter. SWS Partners now owns 7,727 shares of the aerospace company’s stock valued at $2,036,000 after purchasing an additional 231 shares in the last quarter. Westover Capital Advisors LLC raised its holdings in shares of General Dynamics by 1.9% during the fourth quarter. Westover Capital Advisors LLC now owns 5,439 shares of the aerospace company’s stock worth $1,433,000 after acquiring an additional 100 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in General Dynamics by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,577,075 shares of the aerospace company’s stock valued at $415,543,000 after purchasing an additional 39,926 shares during the last quarter. Mission Wealth Management LP grew its stake in General Dynamics by 2.1% in the fourth quarter. Mission Wealth Management LP now owns 13,576 shares of the aerospace company’s stock valued at $3,577,000 after purchasing an additional 282 shares in the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. increased its position in General Dynamics by 1.9% in the 4th quarter. Woodley Farra Manion Portfolio Management Inc. now owns 17,419 shares of the aerospace company’s stock worth $4,590,000 after purchasing an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 1.3 %

NYSE GD opened at $250.68 on Wednesday. General Dynamics Co. has a twelve month low of $239.87 and a twelve month high of $316.90. 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 has a market cap of $67.77 billion, a PE ratio of 18.38, a PEG ratio of 1.69 and a beta of 0.61. The firm has a 50-day simple moving average of $257.79 and a 200 day simple moving average of $280.39.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. On average, research analysts forecast that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, Director Laura J. Schumacher sold 1,796 shares of the company’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 sale, the director now directly owns 11,175 shares in the company, 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 is accessible through this link. Corporate insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on GD. Citigroup lowered their price target on General Dynamics from $360.00 to $335.00 and set a “buy” rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group decreased their target price on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on shares of General Dynamics from $276.00 to $244.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. TD Cowen cut their target price on General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. decreased their price target on General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. One 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $296.71.

About General Dynamics

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.