Secure Asset Management LLC Has $1.61 Million Stock Position in General Dynamics Co. (NYSE:GD)

Secure Asset Management LLC lifted its stake in General Dynamics Co. (NYSE:GD) by 13.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,116 shares of the aerospace company’s stock after buying an additional 710 shares during the quarter. Secure Asset Management LLC’s holdings in General Dynamics were worth $1,612,000 at the end of the most recent reporting period.

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

General Dynamics Stock Performance

Shares of GD stock opened at $268.07 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics Co. has a 52 week low of $251.62 and a 52 week high of $316.90. The company’s 50 day moving average price is $270.19 and its two-hundred day moving average price is $287.88. The company has a market capitalization of $73.71 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 1.44 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.04 earnings per share. On average, analysts expect that General Dynamics Co. will post 13.71 earnings per share for the current fiscal year.

General Dynamics announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.12%. General Dynamics’s dividend payout ratio is currently 43.26%.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GD shares. Baird R W lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Vertical Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $352.00 to $290.00 in a research note on Monday, January 6th. Susquehanna cut their price objective on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein dropped their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, General Dynamics has a consensus rating of “Hold” and a consensus price target of $304.88.

General Dynamics 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.