Perfromance Wealth Partners LLC Reduces Stock Position in General Dynamics Co. (NYSE:GD)

Perfromance Wealth Partners LLC cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 13.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,578 shares of the aerospace company’s stock after selling 254 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in General Dynamics were worth $416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Coston McIsaac & Partners increased its holdings in shares of General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 33 shares during the last quarter. Global X Japan Co. Ltd. increased its holdings in shares of 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 during the last quarter. Grove Bank & Trust increased its holdings in shares of General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after acquiring an additional 34 shares during the last quarter. Trueblood Wealth Management LLC boosted its position in General Dynamics by 1.6% during the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after purchasing an additional 34 shares during the period. Finally, Jeppson Wealth Management LLC boosted its position in General Dynamics by 3.8% during the 3rd quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock valued at $289,000 after purchasing an additional 35 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Up 1.7 %

Shares of General Dynamics stock opened at $271.30 on Wednesday. The stock’s fifty day moving average is $271.92 and its 200-day moving average is $288.09. The firm has a market capitalization of $74.60 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.41 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. General Dynamics Co. has a 12-month low of $247.88 and a 12-month high of $316.90.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $3.04 earnings per share. Equities analysts anticipate that General Dynamics Co. will post 13.81 earnings per share for the current year.

General Dynamics declared that its board has authorized a stock repurchase plan on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on GD. Wolfe Research lowered General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Sanford C. Bernstein reduced their price objective on 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. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $304.88.

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.