C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $6.92 Million Position in General Dynamics Co. (NYSE:GD)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in General Dynamics Co. (NYSE:GD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,242 shares of the aerospace company’s stock, valued at approximately $6,915,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Creative Planning lifted its position in shares of General Dynamics by 4.2% in the 3rd quarter. Creative Planning now owns 46,948 shares of the aerospace company’s stock worth $14,188,000 after purchasing an additional 1,906 shares during the period. Blue Trust Inc. raised its holdings in General Dynamics by 75.3% in the third quarter. Blue Trust Inc. now owns 2,450 shares of the aerospace company’s stock worth $711,000 after buying an additional 1,052 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of General Dynamics by 2.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 152,988 shares of the aerospace company’s stock worth $46,233,000 after acquiring an additional 2,934 shares during the period. Arlington Partners LLC grew its position in General Dynamics by 27.8% during the third quarter. Arlington Partners LLC now owns 14,173 shares of the aerospace company’s stock valued at $4,283,000 after buying an additional 3,080 shares during the period. Finally, Toth Financial Advisory Corp lifted its holdings in General Dynamics by 2.0% during the third quarter. Toth Financial Advisory Corp now owns 22,359 shares of the aerospace company’s stock valued at $6,757,000 after purchasing an additional 440 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

GD stock opened at $241.98 on Tuesday. The business’s 50-day moving average price is $261.96 and its two-hundred day moving average price is $284.09. 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 firm has a market cap of $66.54 billion, a PE ratio of 17.74, a P/E/G ratio of 1.61 and a beta of 0.61. General Dynamics Co. has a 1-year low of $239.87 and a 1-year high of $316.90.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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%. As a group, research analysts forecast that General Dynamics Co. will post 14.84 earnings per share for the current year.

General Dynamics declared that its board has initiated a stock repurchase program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Friday, January 17th. General Dynamics’s dividend payout ratio is presently 41.64%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research note on Tuesday, January 28th. Sanford C. Bernstein decreased their price objective 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. UBS Group cut their price target on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price objective on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, Wells Fargo & Company decreased their price objective on General Dynamics from $279.00 to $276.00 and set an “equal weight” rating on the stock in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $298.59.

About General Dynamics

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.