Patriot Financial Group Insurance Agency LLC Boosts Stock Holdings in General Dynamics Co. (NYSE:GD)

Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 10.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,805 shares of the aerospace company’s stock after buying an additional 375 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in General Dynamics were worth $1,003,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. MFA Wealth Advisors LLC lifted its holdings in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC bought a new stake in General Dynamics during the 3rd quarter worth approximately $26,000. Sugar Maple Asset Management LLC purchased a new stake in General Dynamics in the 4th quarter worth approximately $28,000. Lowe Wealth Advisors LLC bought a new position in General Dynamics in the 3rd quarter valued at $30,000. Finally, True Wealth Design LLC purchased a new position in shares of General Dynamics during the 3rd quarter valued at $34,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $262.33 on Wednesday. The firm has a market cap of $72.13 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. The company’s fifty day simple moving average is $268.94 and its two-hundred day simple moving average is $287.64. 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 Co. has a 12-month low of $257.26 and a 12-month high of $316.90.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

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

Analyst Ratings Changes

GD has been the subject of several research analyst reports. Sanford C. Bernstein dropped their price objective 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. The Goldman Sachs Group dropped their price target on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a research report on Tuesday. Barclays decreased their price objective on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Finally, Susquehanna lowered their price objective on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $303.28.

Insiders Place Their Bets

In other General Dynamics news, 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 completion of the transaction, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.52% of the company’s stock.

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.