Kingswood Wealth Advisors LLC Sells 80 Shares of General Dynamics Co. (NYSE:GD)

Kingswood Wealth Advisors LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,358 shares of the aerospace company’s stock after selling 80 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in General Dynamics were worth $3,256,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Coston McIsaac & Partners increased its holdings in General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares in the last quarter. Global X Japan Co. Ltd. increased its position in General Dynamics by 2.3% in the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after acquiring an additional 33 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of General Dynamics by 10.6% in the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after purchasing an additional 34 shares in the last quarter. Trueblood Wealth Management LLC raised its position in General Dynamics by 1.6% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after purchasing an additional 34 shares during the last quarter. Finally, Jeppson Wealth Management LLC lifted its holdings in General Dynamics by 3.8% during the 3rd quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock worth $289,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insiders Place Their Bets

In other news, VP Christopher J. Brady sold 5,540 shares of the business’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 transaction of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of GD opened at $266.22 on Monday. The company has a market cap of $73.20 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.43 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $269.27 and its 200 day simple moving average is $287.70. General Dynamics Co. has a 1-year low of $257.26 and a 1-year high of $316.90.

General Dynamics declared that its board has authorized a stock repurchase program on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a yield of 2.13%. General Dynamics’s dividend payout ratio (DPR) is currently 43.26%.

Analysts Set New Price Targets

Several research firms have recently commented on GD. The Goldman Sachs Group cut General Dynamics from a “neutral” rating to a “sell” rating and lowered their target price for the company from $283.00 to $245.00 in a research note on Thursday, December 12th. Barclays decreased their target price 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. Susquehanna lowered their price objective on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Sanford C. Bernstein decreased their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $304.88.

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.