CWA Asset Management Group LLC Lowers Stock Position in General Dynamics Co. (NYSE:GD)

CWA Asset Management Group LLC cut its position in shares of General Dynamics Co. (NYSE:GD) by 6.0% during the 4th quarter, Holdings Channel reports. The firm owned 2,305 shares of the aerospace company’s stock after selling 148 shares during the quarter. CWA Asset Management Group LLC’s holdings in General Dynamics were worth $607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC grew its holdings in shares of General Dynamics by 241.7% in the third 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. Hara Capital LLC purchased a new position in General Dynamics in the third quarter worth $26,000. Lowe Wealth Advisors LLC bought a new position in General Dynamics in the 3rd quarter valued at $30,000. True Wealth Design LLC purchased a new stake in shares of General Dynamics during the 3rd quarter valued at $34,000. Finally, Meeder Asset Management Inc. raised its stake in shares of General Dynamics by 385.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 131 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.7 %

Shares of NYSE:GD opened at $261.35 on Thursday. The firm has a market capitalization of $71.86 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics Co. has a 52-week low of $247.36 and a 52-week high of $316.90. The firm has a fifty day moving average of $277.81 and a 200 day moving average of $289.54.

General Dynamics (NYSE:GD) last posted its quarterly earnings data 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 firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 earnings per share. As a group, research analysts anticipate that General Dynamics Co. will post 13.84 EPS for the current fiscal year.

General Dynamics declared that its Board of Directors has approved a share buyback program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

Insider Transactions at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction dated 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 transaction, the vice president now owns 20,296 shares in the company, 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 this hyperlink. Company insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GD shares. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and reduced their price target for the company from $352.00 to $290.00 in a research report on Monday. Royal Bank of Canada lowered shares of General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $330.00 to $290.00 in a research note on Thursday, December 19th. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein lowered their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Susquehanna cut their price target on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.