Linscomb Wealth Inc. Increases Holdings in General Dynamics Co. (NYSE:GD)

Linscomb Wealth Inc. increased its position in General Dynamics Co. (NYSE:GD) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,281 shares of the aerospace company’s stock after buying an additional 236 shares during the quarter. Linscomb Wealth Inc.’s holdings in General Dynamics were worth $3,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Life Planners bought a new stake in shares of General Dynamics in the 4th quarter worth approximately $25,000. Hara Capital LLC bought a new stake in General Dynamics in the third quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in General Dynamics during the fourth quarter valued at about $26,000. Sugar Maple Asset Management LLC bought a new position in shares of General Dynamics during the fourth quarter valued at about $28,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of General Dynamics in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GD. JPMorgan Chase & Co. reduced their price target on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Susquehanna cut their target price on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a report on Thursday, January 30th. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and lowered their price target for the company from $352.00 to $290.00 in a report on Monday, January 6th. Barclays cut their price target on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, TD Cowen lowered their price objective on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $296.71.

General Dynamics Price Performance

GD opened at $251.53 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The company has a market cap of $68.00 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61. The stock has a fifty day simple moving average of $258.53 and a two-hundred day simple moving average of $281.44. General Dynamics Co. has a 12-month low of $239.87 and a 12-month high of $316.90.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) 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%. Research analysts predict that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a $1.42 dividend. The ex-dividend date was Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.26%. General Dynamics’s dividend payout ratio is currently 41.64%.

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

Insider Buying and Selling

In related news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.

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.