Armstrong Advisory Group Inc. Has $277,000 Stake in General Dynamics Co. (NYSE:GD)

Armstrong Advisory Group Inc. increased its stake in General Dynamics Co. (NYSE:GD) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,051 shares of the aerospace company’s stock after purchasing an additional 40 shares during the period. Armstrong Advisory Group Inc.’s holdings in General Dynamics were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC raised its holdings in shares of General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after purchasing an additional 3,448 shares during the last quarter. Olstein Capital Management L.P. boosted its stake in shares of General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after buying an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after acquiring an additional 3,363 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of General Dynamics by 69.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company’s stock valued at $69,032,000 after acquiring an additional 107,095 shares during the last quarter. Finally, Lummis Asset Management LP raised its holdings in General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock worth $3,133,000 after acquiring an additional 2,551 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The shares were 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 $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is owned by corporate insiders.

General Dynamics Price Performance

Shares of GD opened at $265.89 on Thursday. General Dynamics Co. has a 12-month low of $247.36 and a 12-month high of $316.90. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The stock has a market cap of $73.11 billion, a PE ratio of 20.25, a PEG ratio of 1.62 and a beta of 0.61. The business has a 50-day simple moving average of $275.30 and a two-hundred day simple moving average of $288.61.

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 the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the prior year, the business earned $3.04 earnings per share. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts anticipate that General Dynamics Co. will post 13.84 earnings per share for the current fiscal year.

General Dynamics announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid 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 is Friday, January 17th. General Dynamics’s dividend payout ratio is 43.26%.

Analyst Ratings Changes

A number of research analysts have weighed in on GD shares. Jefferies Financial Group restated a “hold” rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. The Goldman Sachs Group downgraded shares of General Dynamics from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $283.00 to $245.00 in a report on Thursday, December 12th. Citigroup increased their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird restated a “neutral” rating and set a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research note on Tuesday. Finally, Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics currently has a consensus rating of “Hold” and a consensus target price of $304.53.

General Dynamics 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.