Golden State Wealth Management LLC Purchases Shares of 228 General Dynamics Co. (NYSE:GD)

Golden State Wealth Management LLC bought a new position in shares of General Dynamics Co. (NYSE:GD) in the 4th quarter, Holdings Channel reports. The fund bought 228 shares of the aerospace company’s stock, valued at approximately $60,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GD. Wellington Management Group LLP boosted its stake in General Dynamics by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock valued at $4,292,851,000 after purchasing an additional 109,618 shares during the period. State Street Corp boosted its position in shares of General Dynamics by 9.4% in the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after acquiring an additional 943,247 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of General Dynamics by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock valued at $2,366,124,000 after acquiring an additional 189,904 shares in the last quarter. Geode Capital Management LLC increased its position in General Dynamics by 13.0% during the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after acquiring an additional 638,342 shares during the period. Finally, FMR LLC boosted its stake in shares of General Dynamics by 0.5% in the third quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock valued at $1,493,030,000 after buying an additional 24,464 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value 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 represents a 21.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction 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 owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

GD has been the topic of several recent analyst reports. Royal Bank of Canada dropped their target price on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. Citigroup reduced their price objective on General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a research note on Monday. Barclays dropped their price objective on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Finally, Baird R W cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Hold” and a consensus price target of $298.59.

General Dynamics Trading Up 0.5 %

NYSE:GD opened at $256.17 on Tuesday. The stock has a market capitalization of $70.44 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.61 and a beta of 0.61. The firm has a fifty day simple moving average of $264.47 and a two-hundred day simple moving average of $285.57. 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 Co. has a 12 month low of $247.01 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last announced 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%. Analysts expect that General Dynamics Co. will post 14.84 EPS for the current fiscal year.

General Dynamics declared that its board has approved a stock repurchase plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics’s dividend payout ratio is currently 41.64%.

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.