Exeter Financial LLC Raises Position in General Dynamics Co. (NYSE:GD)

Exeter Financial LLC raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,506 shares of the aerospace company’s stock after buying an additional 293 shares during the period. General Dynamics comprises approximately 2.1% of Exeter Financial LLC’s portfolio, making the stock its 12th largest position. Exeter Financial LLC’s holdings in General Dynamics were worth $4,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GD. Unique Wealth LLC purchased a new position in General Dynamics during the 4th quarter valued at about $215,000. First Financial Corp IN grew its position in shares of General Dynamics by 33.7% in the 4th quarter. First Financial Corp IN now owns 1,146 shares of the aerospace company’s stock worth $302,000 after buying an additional 289 shares during the last quarter. Benson Investment Management Company Inc. increased its stake in shares of General Dynamics by 3.1% during the fourth quarter. Benson Investment Management Company Inc. now owns 17,085 shares of the aerospace company’s stock valued at $4,502,000 after buying an additional 513 shares during the period. PFW Advisors LLC bought a new position in shares of General Dynamics during the fourth quarter valued at approximately $1,037,000. Finally, Eastern Bank lifted its stake in General Dynamics by 8.7% in the fourth quarter. Eastern Bank now owns 1,607 shares of the aerospace company’s stock worth $423,000 after acquiring an additional 128 shares during the period. 86.14% of the stock is owned by institutional investors.

Insider Buying and Selling 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 completion of the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.52% of the company’s stock.

General Dynamics Trading Up 1.7 %

Shares of NYSE GD opened at $263.73 on Tuesday. The firm’s 50 day moving average price is $275.94 and its 200-day moving average price is $288.79. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The company has a market cap of $72.52 billion, a PE ratio of 20.09, a P/E/G ratio of 1.62 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $3.04 earnings per share. On average, equities research analysts expect that General Dynamics Co. will post 13.84 EPS for the current fiscal year.

General Dynamics announced that its board has approved a stock buyback plan on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders 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 yield of 2.15%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GD shares. Citigroup upped their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays lowered their price objective on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Susquehanna decreased their target price on 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 dropped their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Dynamics has an average rating of “Hold” and a consensus target price of $308.18.

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.