U S Global Investors Inc. Acquires 12,453 Shares of General Dynamics Co. (NYSE:GD)

U S Global Investors Inc. boosted its holdings in General Dynamics Co. (NYSE:GD) by 18.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 79,450 shares of the aerospace company’s stock after purchasing an additional 12,453 shares during the period. General Dynamics accounts for approximately 2.1% of U S Global Investors Inc.’s portfolio, making the stock its 14th largest position. U S Global Investors Inc.’s holdings in General Dynamics were worth $20,934,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GD. State Street Corp increased its position in General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after acquiring an additional 943,247 shares during the period. Geode Capital Management LLC increased its holdings in shares of General Dynamics by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after purchasing an additional 638,342 shares during the period. Two Sigma Advisers LP increased its stake in General Dynamics by 117.0% during the third quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after acquiring an additional 463,000 shares during the period. Barclays PLC boosted its stake in General Dynamics by 43.1% during the third quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock worth $284,818,000 after buying an additional 283,972 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of General Dynamics by 2.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after buying an additional 189,904 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Price Performance

NYSE GD opened at $251.53 on Friday. The stock has a market cap of $68.00 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.69 and a beta of 0.61. General Dynamics Co. has a 52-week low of $239.87 and a 52-week high of $316.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The business has a 50 day simple moving average of $258.53 and a 200 day simple moving average of $281.44.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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%. Analysts anticipate that General Dynamics Co. will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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

General Dynamics declared that its Board of Directors has initiated a share buyback program on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BTIG Research cut shares of General Dynamics from a “buy” rating to a “neutral” rating in a research report on Thursday, February 13th. Royal Bank of Canada cut their target price on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. William Blair cut General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Citigroup reduced their price objective on General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $296.71.

Insider Transactions at General Dynamics

In other news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics 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 in the company, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

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.