Premier Path Wealth Partners LLC Has $1.22 Million Stock Position in General Dynamics Co. (NYSE:GD)

Premier Path Wealth Partners LLC cut its holdings in General Dynamics Co. (NYSE:GD) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 4,633 shares of the aerospace company’s stock after selling 99 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in General Dynamics were worth $1,221,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of General Dynamics by 0.8% during the third quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock worth $4,292,851,000 after purchasing an additional 109,618 shares during the period. State Street Corp grew its position in General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after buying an additional 943,247 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of General Dynamics by 2.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock valued at $2,366,124,000 after acquiring an additional 189,904 shares during the period. Geode Capital Management LLC grew its holdings in shares of General Dynamics by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after purchasing an additional 638,342 shares in the last quarter. Finally, FMR LLC increased its position in shares of General Dynamics by 0.5% in the third quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock worth $1,493,030,000 after purchasing an additional 24,464 shares during the period. 86.14% of the stock is owned by institutional investors.

Insider Transactions at General Dynamics

In other 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

General Dynamics Price Performance

GD stock opened at $266.86 on Friday. The firm has a market cap of $73.38 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.38 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $273.71 and its 200 day simple moving average is $288.32. General Dynamics Co. has a 12-month low of $247.36 and a 12-month high of $316.90.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share 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 for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $3.04 earnings per share. On average, analysts expect that General Dynamics Co. will post 13.81 earnings per share for the current year.

General Dynamics announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

General Dynamics Announces Dividend

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 issued a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.13%. General Dynamics’s dividend payout ratio is 43.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GD shares. Citigroup increased their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada cut shares of General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $330.00 to $290.00 in a research note on Thursday, December 19th. Robert W. Baird restated a “neutral” rating and set a $283.00 target price (down from $345.00) on shares of General Dynamics in a research note on Tuesday. Sanford C. Bernstein decreased their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Barclays dropped their price objective on General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $304.53.

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.