Argentarii LLC Buys New Shares in General Dynamics Co. (NYSE:GD)

by · The Markets Daily

Argentarii LLC bought a new stake in shares of General Dynamics Co. (NYSE:GD – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,004 shares of the aerospace company’s stock, valued at approximately $528,000.

Other large investors have also added to or reduced their stakes in the company. Financial Life Planners purchased a new position in General Dynamics during the 4th quarter valued at about $25,000. Whipplewood Advisors LLC purchased a new position in shares of General Dynamics in the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Dynamics during the fourth quarter valued at $26,000. Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics in the fourth quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of General Dynamics in the fourth quarter valued at $28,000. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GD. Citigroup dropped their target price on shares of General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a report on Monday, February 10th. UBS Group decreased their price target on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. TD Cowen decreased their price target on shares of General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Royal Bank of Canada decreased their price target on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, General Dynamics presently has an average rating of “Hold” and an average target price of $297.71.

View Our Latest Stock Analysis on GD

Insider Transactions at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Trading Up 2.7 %

Shares of GD opened at $271.82 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a 12-month low of $239.87 and a 12-month high of $316.90. The firm has a 50-day moving average price of $257.80 and a 200 day moving average price of $279.88. The firm has a market capitalization of $73.49 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD – Get Free Report) last posted its 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 forecast that General Dynamics Co. will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s dividend payout ratio is currently 41.64%.

General Dynamics announced that its Board of Directors has authorized a stock 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

General Dynamics Company Profile

(Free Report)

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.

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