C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires New Stake in General Dynamics Co. (NYSE:GD)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in General Dynamics Co. (NYSE:GD) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,242 shares of the aerospace company’s stock, valued at approximately $6,915,000.

A number of other institutional investors have also recently modified their holdings of GD. MFA Wealth Advisors LLC lifted its position in General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 58 shares in the last quarter. Financial Life Planners purchased a new position in shares of General Dynamics in the fourth quarter worth $25,000. Hara Capital LLC purchased a new position in shares of General Dynamics in the third quarter worth $26,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at $28,000. Finally, Heck Capital Advisors LLC bought a new stake in General Dynamics in the 4th quarter worth about $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on GD shares. JPMorgan Chase & Co. lowered their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Vertical Research cut shares of General Dynamics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Barclays dropped their price target on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company reduced their price objective on General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics currently has an average rating of “Hold” and a consensus target price of $298.59.

General Dynamics Stock Down 2.2 %

Shares of GD stock opened at $251.26 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. General Dynamics Co. has a one year low of $247.01 and a one year high of $316.90. The company’s fifty day moving average price is $263.66 and its 200-day moving average price is $285.08. The company has a market capitalization of $69.09 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.61 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Sell-side analysts expect that General Dynamics Co. will post 14.84 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is currently 41.64%.

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

Insider Activity

In related news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the transaction, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The disclosure for this sale can be found here. 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.