ProVise Management Group LLC Has $8.13 Million Holdings in General Dynamics Co. (NYSE:GD)

ProVise Management Group LLC lifted its stake in shares of General Dynamics Co. (NYSE:GD) by 0.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 30,865 shares of the aerospace company’s stock after purchasing an additional 253 shares during the quarter. ProVise Management Group LLC’s holdings in General Dynamics were worth $8,133,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Financial Life Planners acquired a new position in shares of General Dynamics during the fourth quarter worth $25,000. Whipplewood Advisors LLC acquired a new stake in General Dynamics in the fourth quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Dynamics in the fourth quarter valued at $26,000. Sugar Maple Asset Management LLC acquired a new stake in General Dynamics in the fourth quarter valued at $28,000. Finally, Heck Capital Advisors LLC acquired a new stake in General Dynamics in the fourth quarter valued at $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Price Performance

GD stock opened at $267.51 on Wednesday. The stock has a market capitalization of $72.32 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The company’s 50-day moving average is $258.20 and its 200-day moving average is $278.32. 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 1 year low of $239.87 and a 1 year high of $316.90.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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 return on equity of 17.10% and a net margin of 7.93%. Equities research analysts expect that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be given a $1.50 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. This represents a $6.00 annualized dividend and a yield of 2.24%. General Dynamics’s dividend payout ratio (DPR) is presently 43.99%.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Susquehanna decreased their price objective on General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a report on Thursday, January 30th. Robert W. Baird restated a “neutral” rating and issued a $283.00 price objective (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Wells Fargo & Company increased their price objective on General Dynamics from $244.00 to $261.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $297.71.

Insider Activity at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This trade represents a 37.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is owned by 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.