Avestar Capital LLC Increases Stock Position in General Dynamics Co. (NYSE:GD)

Avestar Capital LLC raised its position in General Dynamics Co. (NYSE:GD) by 18.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,958 shares of the aerospace company’s stock after buying an additional 466 shares during the period. Avestar Capital LLC’s holdings in General Dynamics were worth $779,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fifth Third Wealth Advisors LLC increased its stake in shares of General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after purchasing an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. grew its holdings in General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after purchasing an additional 4,000 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of General Dynamics by 10.0% in the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after buying an additional 3,363 shares in the last quarter. Kentucky Trust Co purchased a new position in shares of General Dynamics during the 4th quarter valued at approximately $607,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in General Dynamics by 69.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock valued at $69,032,000 after acquiring an additional 107,095 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Down 2.1 %

GD stock opened at $246.14 on Friday. The firm has a market cap of $67.68 billion, a PE ratio of 18.05, a PEG ratio of 1.61 and a beta of 0.61. General Dynamics Co. has a one year low of $242.86 and a one year 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 firm’s 50 day moving average price is $263.13 and its 200-day moving average price is $284.85.

General Dynamics (NYSE:GD) last posted its 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 14.84 EPS for the current year.

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

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Friday, January 17th. General Dynamics’s dividend payout ratio is presently 41.64%.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of General Dynamics 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 sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction on 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 sale, the director now owns 11,175 shares in the company, valued at $2,857,224. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GD shares. Royal Bank of Canada reduced their price objective 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. Robert W. Baird reaffirmed a “neutral” rating and issued a $283.00 price target (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. TD Cowen cut their price objective on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Sanford C. Bernstein decreased their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $298.59.

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.