Atomi Financial Group Inc. Has $431,000 Position in General Dynamics Co. (NYSE:GD)

Atomi Financial Group Inc. trimmed its position in shares of General Dynamics Co. (NYSE:GD) by 25.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,635 shares of the aerospace company’s stock after selling 568 shares during the period. Atomi Financial Group Inc.’s holdings in General Dynamics were worth $431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fred Alger Management LLC increased its position in shares of General Dynamics by 8.9% during the second quarter. Fred Alger Management LLC now owns 8,351 shares of the aerospace company’s stock worth $2,423,000 after buying an additional 679 shares during the period. Ameriprise Financial Inc. grew its holdings in General Dynamics by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after acquiring an additional 47,915 shares during the period. Daymark Wealth Partners LLC raised its position in shares of General Dynamics by 2.1% in the 2nd quarter. Daymark Wealth Partners LLC now owns 8,924 shares of the aerospace company’s stock worth $2,589,000 after acquiring an additional 183 shares in the last quarter. MBB Public Markets I LLC acquired a new position in shares of General Dynamics in the 2nd quarter valued at about $4,911,000. Finally, Legal & General Group Plc boosted its position in shares of General Dynamics by 6.4% during the 2nd quarter. Legal & General Group Plc now owns 1,477,993 shares of the aerospace company’s stock valued at $428,825,000 after purchasing an additional 88,489 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Susquehanna dropped their price target on General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered shares of General Dynamics from a “neutral” rating to a “sell” rating and cut their target price for the stock from $283.00 to $245.00 in a research note on Thursday, December 12th. Sanford C. Bernstein decreased their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Wolfe Research cut shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Finally, Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and decreased their target price for the company from $352.00 to $290.00 in a research report on Monday, January 6th. One 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 issued a strong buy rating to the company. Based on data from MarketBeat, General Dynamics has an average rating of “Hold” and an average price target of $304.88.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.52% of the stock is owned by company insiders.

General Dynamics Stock Down 0.9 %

General Dynamics stock opened at $266.22 on Friday. 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 stock has a market cap of $73.20 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. General Dynamics Co. has a fifty-two week low of $257.26 and a fifty-two week high of $316.90. The firm’s 50-day simple moving average is $269.70 and its 200 day simple moving average is $287.74.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same period in the previous year, the business posted $3.04 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. Research analysts predict that General Dynamics Co. will post 13.66 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is currently 43.26%.

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

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.