General Dynamics Co. (NYSE:GD) Shares Sold by Fortem Financial Group LLC

Fortem Financial Group LLC cut its stake in shares of General Dynamics Co. (NYSE:GD) by 5.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,460 shares of the aerospace company’s stock after selling 247 shares during the period. Fortem Financial Group LLC’s holdings in General Dynamics were worth $1,348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MFA Wealth Advisors LLC increased its holdings in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC purchased a new stake in General Dynamics during the 3rd quarter worth approximately $26,000. American Capital Advisory LLC purchased a new stake in General Dynamics during the 2nd quarter worth approximately $29,000. Lowe Wealth Advisors LLC purchased a new stake in General Dynamics during the 3rd quarter worth approximately $30,000. Finally, Atlantic Edge Private Wealth Management LLC increased its holdings in shares of General Dynamics by 120.0% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GD. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Citigroup boosted their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays boosted their price target on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Royal Bank of Canada boosted their price target on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price target on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Trading Up 0.3 %

Shares of GD stock opened at $270.46 on Wednesday. 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 1 year low of $247.36 and a 1 year high of $316.90. The stock has a fifty day moving average of $294.78 and a two-hundred day moving average of $294.60. The firm has a market capitalization of $74.37 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.67 and a beta of 0.59.

General Dynamics (NYSE:GD) last announced its quarterly earnings results 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 business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.04 EPS. As a group, research analysts expect that General Dynamics Co. will post 13.87 EPS for the current year.

General Dynamics announced that its Board of Directors has approved a stock repurchase plan on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 annualized dividend and a dividend yield of 2.10%. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

About General Dynamics

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.