Pines Wealth Management LLC Invests $944,000 in General Dynamics Co. (NYSE:GD)

Pines Wealth Management LLC purchased a new stake in General Dynamics Co. (NYSE:GD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,639 shares of the aerospace company’s stock, valued at approximately $944,000.

Several other institutional investors have also recently bought and sold shares of GD. Wealthspire Advisors LLC lifted its position in General Dynamics by 9.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,712 shares of the aerospace company’s stock valued at $497,000 after purchasing an additional 154 shares during the period. Rathbones Group PLC boosted its stake in General Dynamics by 1.8% in the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after acquiring an additional 35 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in General Dynamics by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,485,242 shares of the aerospace company’s stock worth $430,928,000 after acquiring an additional 95,349 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of General Dynamics by 0.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 23,568 shares of the aerospace company’s stock valued at $6,838,000 after purchasing an additional 166 shares during the period. Finally, Stock Yards Bank & Trust Co. boosted its position in shares of General Dynamics by 3.1% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 4,685 shares of the aerospace company’s stock worth $1,359,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of recent analyst reports. Citigroup upped their price objective on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company reduced their price objective on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Barclays dropped their price objective on General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $304.53.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction that occurred 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 directly owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is owned by company insiders.

General Dynamics Trading Up 0.5 %

NYSE:GD opened at $264.92 on Wednesday. The company has a market cap of $72.84 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. General Dynamics Co. has a twelve month low of $247.36 and a twelve month high of $316.90. The business has a 50 day moving average price of $275.30 and a two-hundred day moving average price of $288.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the previous year, the company posted $3.04 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, analysts expect that General Dynamics Co. will post 13.84 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

General Dynamics declared that its board has authorized a stock repurchase plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

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.