General Dynamics Co. (NYSE:GD) Shares Bought by Continuum Advisory LLC

Continuum Advisory LLC raised its stake in shares of General Dynamics Co. (NYSE:GD) by 122.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 519 shares of the aerospace company’s stock after purchasing an additional 286 shares during the quarter. Continuum Advisory LLC’s holdings in General Dynamics were worth $152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Diversified Trust Co grew its stake in General Dynamics by 34.4% during the 2nd quarter. Diversified Trust Co now owns 2,020 shares of the aerospace company’s stock valued at $586,000 after purchasing an additional 517 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its position in General Dynamics by 281.4% in the second quarter. GPS Wealth Strategies Group LLC now owns 267 shares of the aerospace company’s stock valued at $77,000 after buying an additional 197 shares during the last quarter. Fiduciary Financial Group LLC acquired a new position in General Dynamics in the 2nd quarter worth approximately $339,000. Triad Wealth Partners LLC purchased a new position in General Dynamics during the 2nd quarter worth approximately $95,000. Finally, GoalFusion Wealth Management LLC acquired a new stake in General Dynamics during the 2nd quarter valued at approximately $200,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 1.9 %

GD stock opened at $265.43 on Thursday. The stock has a market capitalization of $72.98 billion, a P/E ratio of 20.22, a P/E/G ratio of 1.67 and a beta of 0.59. General Dynamics Co. has a 52 week low of $247.36 and a 52 week high of $316.90. The firm has a 50-day simple moving average of $294.08 and a 200-day simple moving average of $294.40. 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 released its 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). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter last year, the business earned $3.04 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. Equities analysts forecast that General Dynamics Co. will post 13.87 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

General Dynamics announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays increased their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Wells Fargo & Company dropped their target price on General Dynamics from $322.00 to $295.00 and set an “equal weight” rating on the stock in a report on Wednesday. Royal Bank of Canada lifted their price target on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $322.00.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. 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.