Denver PWM LLC Takes $55,000 Position in General Dynamics Co. (NYSE:GD)

Denver PWM LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 208 shares of the aerospace company’s stock, valued at approximately $55,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. raised its position in shares of General Dynamics by 0.7% during the fourth quarter. First Horizon Advisors Inc. now owns 6,701 shares of the aerospace company’s stock valued at $1,766,000 after buying an additional 46 shares during the last quarter. Pinnacle Financial Partners Inc grew its holdings in shares of General Dynamics by 0.6% in the fourth quarter. Pinnacle Financial Partners Inc now owns 62,313 shares of the aerospace company’s stock valued at $16,419,000 after purchasing an additional 393 shares in the last quarter. Capital City Trust Co. FL grew its holdings in shares of General Dynamics by 0.5% in the fourth quarter. Capital City Trust Co. FL now owns 25,336 shares of the aerospace company’s stock valued at $6,676,000 after purchasing an additional 120 shares in the last quarter. Redmond Asset Management LLC purchased a new position in shares of General Dynamics in the fourth quarter valued at $287,000. Finally, Turning Point Benefit Group Inc. purchased a new position in shares of General Dynamics in the fourth quarter valued at $300,000. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GD. TD Cowen cut their target price on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday, January 28th. Royal Bank of Canada cut 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 report on Thursday, January 30th. Wells Fargo & Company cut their target price on shares of General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Citigroup cut their target price on shares of General Dynamics from $360.00 to $335.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 price objective (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. One equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $298.59.

General Dynamics Stock Performance

GD stock opened at $243.02 on Friday. 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 has a 50-day moving average price of $259.68 and a 200 day moving average price of $282.53. The company has a market capitalization of $65.70 billion, a P/E ratio of 17.82, a PEG ratio of 1.69 and a beta of 0.61. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90.

General Dynamics (NYSE:GD) last released 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 net margin of 7.93% and a return on equity of 17.10%. As a group, equities research analysts forecast that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were issued a $1.42 dividend. The ex-dividend date was Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.34%. General Dynamics’s payout ratio is currently 41.64%.

General Dynamics declared that its Board of Directors has approved a share buyback program on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

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.